Guideline Value for Pulithevan Street

Pulithevan Street guideline value

The current guideline value of Pulithevan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Pulithevan Street has changed

The guideline value for Pulithevan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 275%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a substantial rise of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Pulithevan Street's 2024 figure below this median.

• Pulithevan Cross Street: Rs 3,300 per sq.ft (2024)
• Pughazhandhi Street: Rs 3,300 per sq.ft (2024)
• Punnya Kodi Street: Rs 3,300 per sq.ft (2024)
• P.T. Rajan Salai: Rs 9,900 per sq.ft (2024)
• Pushpavathi Ammal Street: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pulithevan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees together Rs 2,97,000. 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 Pulithevan Street?

The Sub Registrar Office that covers Pulithevan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for calculating the fees.

When a property is registered, the guideline value helps in establishing a legal record of the transaction. It ensures that the property is valued appropriately for tax purposes, and both buyers and sellers must comply with these regulations to complete the sale legally.

Frequently asked questions

What is the current guideline value of Pulithevan Street?

The current guideline value of Pulithevan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Pulithevan Street?

Pulithevan Street is classified as Residential Class IV Type - II.

Where is the Sub Registrar Office for Pulithevan Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Pulithevan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.