Guideline Value for Pungathur Colony

Pungathur Colony guideline value

The current guideline value of Pungathur Colony, located in Thiruvallur village under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Pungathur Colony has changed

The guideline value for Pungathur Colony has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a reduction of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current figure for Pungathur Colony.

• Pungathur: Rs 1,650 per sq.ft (2024)
• Pumphouse Road: Rs 1,100 per sq.ft (2024)
• Pukalenthi Street: Rs 1,650 per sq.ft (2024)
• Railway Quarters: Rs 1,100 per sq.ft (2024)
• Poondi road: Rs 880 per sq.ft (2024)
• Rajaji Sali: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pungathur Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. It is important to note that 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 Pungathur Colony?

The Sub Registrar Office that covers Pungathur Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When you buy or sell property, the guideline value is used to ensure that the transaction is recorded accurately, and it helps in calculating the applicable taxes. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pungathur Colony?

The current guideline value of Pungathur Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What are the stamp duty and registration fees for property in Pungathur Colony?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Pungathur Colony?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Pungathur Colony, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

What does the guideline value indicate?

The guideline value indicates the minimum value at which property transactions must be registered. It is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.