Guideline Value for Pulianthope 2nd cross street

Pulianthope 2nd cross street guideline value

The current guideline value of Pulianthope 2nd cross street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pulianthope 2nd cross street has changed

The guideline value for Pulianthope 2nd cross street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, by 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, representing an increase of 49% from the previous revision. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Pulianthope 2nd cross street is below this median.

• Pulianthope 1st lane: Rs 2,700 per sq.ft (2024)
• Pulianthope 2nd lane: Rs 2,700 per sq.ft (2024)
• Pulianthope 1st cross street: Rs 2,700 per sq.ft (2024)
• Pulianthope 3rd cross street: Rs 2,700 per sq.ft (2024)
• Pulianthope 3rd lane: Rs 2,700 per sq.ft (2024)
• Pulianthope 4th cross street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pulianthope 2nd cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pulianthope 2nd cross street?

The Sub Registrar Office that covers Pulianthope 2nd cross street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pulianthope 2nd cross street?

The current guideline value of Pulianthope 2nd cross street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 238% over the years.

What are the other streets in Vepery with the same guideline value?

Other streets in Vepery with a guideline value of Rs 2,700 per sq.ft in 2024 include Pulianthope 1st lane, Pulianthope 2nd lane, Pulianthope 1st cross street, Pulianthope 3rd cross street, Pulianthope 3rd lane, and Pulianthope 4th cross street.

What is the registration fee for property in Pulianthope 2nd cross street?

The registration fee for property in Pulianthope 2nd cross street is calculated at 2% of the guideline value, which amounts to Rs 54,000 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Pulianthope 2nd cross street?

The Sub Registrar Office for Pulianthope 2nd cross street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.