Guideline Value for Punithavathi Nagar 3rd Street

Punithavathi Nagar 3rd Street guideline value

The current guideline value of Punithavathi Nagar 3rd 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 3rd Street has changed

The guideline value for Punithavathi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,500 per sq.ft. This value remained unchanged in the subsequent revision in 2017, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The latest revision in 2024 saw a further increase of 7%, setting the current guideline value at Rs 1,600 per sq.ft.

It is important to note that there are no recorded figures for the years 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 that have a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Punithavathi Nagar 3rd Street is below this median.

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

Stamp duty and registration fee for property in Punithavathi Nagar 3rd 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, leading to a total of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punithavathi Nagar 3rd Street?

The Sub Registrar Office that covers Punithavathi Nagar 3rd 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

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the minimum value at which the property can be registered, ensuring that the transaction is documented according to the prevailing rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar 3rd Street?

The current guideline value of Punithavathi Nagar 3rd 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 2023 to Rs 1,600 per sq.ft in 2024, representing a 7% increase. It was previously Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Punithavathi Nagar 3rd Street?

Punithavathi Nagar 3rd Street is classified as Residential Special Type - II, indicating its suitability for residential development.

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 the stamp duty calculated for property transactions?

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