Guideline Value for Punithavathi Nagar 2nd Cross street

Punithavathi Nagar 2nd Cross street guideline value

The current guideline value of Punithavathi Nagar 2nd Cross street is Rs 1,600 per sq.ft. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Punithavathi Nagar 2nd Cross street has changed

The guideline value for Punithavathi Nagar 2nd Cross street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the current 2024 revision has set it at Rs 1,600 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Punithavathi Nagar 2nd Cross street below this median.

• Punithavathi Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 1st Cross street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Punithavathi Nagar 2nd Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 more details.

Which Sub Registrar Office covers Punithavathi Nagar 2nd Cross street?

The Sub Registrar Office that covers Punithavathi Nagar 2nd Cross street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, under the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar 2nd Cross street?

The current guideline value of Punithavathi Nagar 2nd Cross street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Punithavathi Nagar 2nd Cross street?

Punithavathi Nagar 2nd Cross street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office located for this street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.