Guideline Value for Punithavathi Nagar 1st Cross street

Punithavathi Nagar 1st Cross street guideline value

The current guideline value of Punithavathi Nagar 1st 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 1st Cross street has changed

The guideline value for Punithavathi Nagar 1st Cross street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 7%. Notably, the revisions for the years 2002, 2003, and 2007 do not have figures listed for this street in the register.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that have 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, which means that the 2024 figure for Punithavathi Nagar 1st Cross street is below this median.

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punithavathi Nagar 1st Cross street?

The Sub Registrar Office that covers Punithavathi Nagar 1st 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 details.

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

The guideline value plays a crucial role during property registration in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is taken into account to calculate the applicable fees. Buyers should be aware that the higher of the guideline value and the sale price will be used to assess the stamp duty, which is a critical aspect of the transaction process.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar 1st Cross street?

The current guideline value of Punithavathi Nagar 1st Cross street is Rs 1,600 per sq.ft, effective from July 1, 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 back 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 for Punithavathi Nagar 1st Cross street?

Punithavathi Nagar 1st Cross 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 the stamp duty calculated for properties in Punithavathi Nagar 1st Cross street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,44,000.