Guideline Value for Punithavathi Nagar 2nd Street

Punithavathi Nagar 2nd Street guideline value

The current guideline value of Punithavathi Nagar 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Punithavathi Nagar 2nd Street has changed

The guideline value for Punithavathi Nagar 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,500 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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, indicating that the 2024 figure for Punithavathi Nagar 2nd Street is below this median.

• Punithavathi Nagar 2nd Cross street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 1st Cross street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 4th Cross Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Punithavathi Nagar 2nd Street?

The Sub Registrar Office that covers Punithavathi Nagar 2nd 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these costs are based on the higher of the guideline value or the sale price, which can impact the overall expenses involved in the transaction.

Frequently asked questions

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

The current guideline value of Punithavathi Nagar 2nd 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 increased 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 Street?

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

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in Punithavathi Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.