Guideline Value for Punitha Susaiappar Street

Punitha Susaiappar Street guideline value

The current guideline value of Punitha Susaiappar 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 Susaiappar Street has changed

The guideline value for Punitha Susaiappar Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged through the 2017 revision. However, in 2017, the value was reduced to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision brought the value back to Rs 600 per sq.ft, and this figure remained consistent in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained stable, with no net change.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which is the same as the current guideline value for Punitha Susaiappar Street.

• Punitha Saveriyar Street: Rs 600 per sq.ft (2024)
• Punitha Therasa Street: Rs 600 per sq.ft (2024)
• Punitha SagayaMatha Street: Rs 800 per sq.ft (2024)
• Punitha Thomaiyar Street: Rs 600 per sq.ft (2024)
• Punitha Royappar Street: Rs 600 per sq.ft (2024)
• Punitha Mikkal Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Punitha Susaiappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000. Together, the total cost for stamp duty and registration fees would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punitha Susaiappar Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that the property is registered at or above the guideline value to comply with legal requirements.

When a property is sold, the guideline value is used to determine the official value for registration purposes. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Punitha Susaiappar Street?

The current guideline value of Punitha Susaiappar 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 experienced several revisions, with the most recent changes showing no increase from 2023 to 2024. The value was Rs 600 per sq.ft in both 2023 and 2024, while it was Rs 402 per sq.ft in 2017.

What is the land classification of Punitha Susaiappar Street?

Punitha Susaiappar Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000 and the registration fee is Rs 12,000, totaling Rs 54,000. The duty is charged based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Punitha Susaiappar Street located?

The Sub Registrar Office covering Punitha Susaiappar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.