Guideline Value for Pink House

Pink House guideline value

The current guideline value of Pink House, located in Puthucheri village under the Padappai SRO, is Rs 550 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Pink House has changed

The guideline value for Pink House has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then revised to Rs 335 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 500 per sq.ft. The latest revision in 2024 has further increased the value to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthucheri

Puthucheri village has a range of guideline values across its 16 streets under the Padappai SRO, with figures ranging from Rs 550 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 625 per sq.ft, indicating that Pink House's 2024 figure is below this median.

• Nimas: Rs 550 per sq.ft (2024)
• New Portia: Rs 550 per sq.ft (2024)
• Nano Homes: Rs 550 per sq.ft (2024)
• Sri Gayathri Doctors Nest Phase III: Rs 900 per sq.ft (2024)
• Sri Gayathri Doctor's Nest Phase -IV: Rs 900 per sq.ft (2024)
• Lakshmi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Pink House

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty is charged at 7%, amounting to Rs 38,500, while the registration fee is 2%, which is Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pink House?

The Pink House property falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Puthucheri

The guideline value is a crucial factor when buying or selling property in Puthucheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pink House?

The current guideline value of Pink House in Puthucheri village is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Pink House?

Pink House is classified under Residential Class I Type - I land classification.

What are the stamp duty and registration fees for Pink House?

For a 1,000 sq.ft plot at the guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers the property in Pink House?

The property in Pink House is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.