Guideline Value for Punitha Mikkal Street

Punitha Mikkal Street guideline value

The current guideline value of Punitha Mikkal Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of Punitha Mikkal Street has changed

Over the years, the guideline value of Punitha Mikkal Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision marked a significant increase, raising the value to Rs 402 per sq.ft, a 33% decrease from the 2012 figure. From the 2017 revision to 2023, the value increased by 49%, bringing it back to Rs 600 per sq.ft.

As of the latest revision in 2024, the guideline value remains at Rs 600 per sq.ft, reflecting no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which aligns with the 2024 figure for Punitha Mikkal Street.

• Punitha Chinnappar Street: Rs 600 per sq.ft (2024)
• Punitha Royappar Street: Rs 600 per sq.ft (2024)
• Punitha Anthoniar Street: Rs 600 per sq.ft (2024)
• Punitha SagayaMatha Street: Rs 800 per sq.ft (2024)
• Punitha Saveriyar Street: Rs 600 per sq.ft (2024)
• Punitha Susaiappar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Punitha Mikkal Street

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the 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 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 Punitha Mikkal Street?

The Sub Registrar Office that covers Punitha Mikkal Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Molachoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Punitha Mikkal Street?

The current guideline value of Punitha Mikkal Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a significant change from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the land classification for Punitha Mikkal Street?

Punitha Mikkal Street is classified as Residential Special Type - III under the Sunguvarchattram SRO.

Where can I find the registration office for Punitha Mikkal Street?

The registration office for Punitha Mikkal Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Molachoor?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.