Guideline Value for Punal Nagar

Punal Nagar guideline value

The current guideline value of Punal Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Punal Nagar has changed

The guideline value for Punal Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 145 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 402 per sq.ft in the 2017 revision. The value remained unchanged at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, and no change from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 314%.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft as of 2024. The median guideline value in this area is Rs 800 per sq.ft, placing Punal Nagar's current value below this median.

• Pillaiyar Koil Street: Rs 700 per sq.ft (2024)
• Peruvazhi Nagar: Rs 800 per sq.ft (2024)
• Periyar Kudiyirupu: Rs 1,200 per sq.ft (2024)
• Rethika Garden Phase -III: Rs 1,000 per sq.ft (2024)
• Rethika Garden Phase -IV: Rs 1,000 per sq.ft (2024)
• Parameshwari Amman Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Punal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punal Nagar?

The Sub Registrar Office that covers Punal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kavanur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 Punal Nagar?

The current guideline value of Punal Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 145 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and has remained at Rs 600 per sq.ft in both 2023 and 2024.

What is the median guideline value in Kavanur?

The median guideline value in Kavanur is Rs 800 per sq.ft, with Punal Nagar's current value being below this median.

What are the stamp duty rates in Punal Nagar?

The stamp duty rate in Punal Nagar is 7%, while the registration fee is 2%. These are calculated based on the higher of the guideline value or the sale price.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.