Guideline Value for Punithavathi Nagar 3rd Cross Street

Punithavathi Nagar 3rd Cross Street guideline value

The current guideline value of Punithavathi Nagar 3rd Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. 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 3rd Cross Street has changed

Over the years, the guideline value of Punithavathi Nagar 3rd Cross Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This figure remained the same in the subsequent revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. Following this, the value increased to Rs 1,500 per sq.ft in 2023, marking a significant rise of 49% from the 2017 figure. The most recent revision in 2024 established the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that the register has no 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 carry a guideline value for 2024, ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the guideline value of Punithavathi Nagar 3rd Cross Street is below this median.

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

Stamp duty and registration fee for property in Punithavathi Nagar 3rd 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 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 fees to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Punithavathi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Punithavathi Nagar 3rd 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, 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 plays a crucial role in the registration process when buying or selling property in Gowrivakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration of property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government collects the appropriate taxes based on the property's valuation.

Frequently asked questions

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

The current guideline value of Punithavathi Nagar 3rd 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 1,600 per sq.ft in 2024, with a notable increase of 49% from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

What is the land classification of Punithavathi Nagar 3rd Cross Street?

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

What fees are applicable for property transactions in this area?

For property transactions in Punithavathi Nagar 3rd Cross Street, stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Punithavathi Nagar 3rd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.