Guideline Value for Puganethzhi Street

Puganethzhi Street guideline value

The current guideline value of Puganethzhi Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Puganethzhi Street has changed

The guideline value for Puganethzhi Street has seen significant changes over the years. In 2003, the value was Rs 294 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,474 per sq.ft in 2017, marking a 321% increase from the previous revision. The 2023 revision set the value at Rs 2,200 per sq.ft, reflecting a 49% increase from 2017. The most recent 2024 revision has further raised the guideline value to Rs 2,420 per sq.ft, a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 723%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the current guideline value for Puganethzhi Street.

• Pudhu Street Chandhu: Rs 2,200 per sq.ft (2024)
• Pudhu Street 3rd Street: Rs 2,200 per sq.ft (2024)
• Puthu Street 1st Street: Rs 2,200 per sq.ft (2024)
• Puthu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Ponappan Street: Rs 2,860 per sq.ft (2024)
• Pillayar Koil Street / Durga Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Puganethzhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total charges to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Puganethzhi Street?

The Sub Registrar Office that covers Puganethzhi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Puganethzhi Street?

The current guideline value of Puganethzhi Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 294 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 723% over this period.

What is the land classification for Puganethzhi Street?

Puganethzhi Street falls under the Residential Class I Type - I land classification.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 2,420 per sq.ft would incur a total cost of Rs 2,17,800 in fees.