Guideline Value for Punithavathi Nagar 1st Street

Punithavathi Nagar 1st Street guideline value

The current guideline value of Punithavathi Nagar 1st 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 1st Street has changed

The guideline value for Punithavathi Nagar 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase of 7% from the 2023 revision of Rs 1,500 per sq.ft. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, marking a significant increase of 49% over the next six years.

In 2012, the guideline value was Rs 1,500 per sq.ft, which represented a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a 2024 guideline value 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 1st Street below this median.

• Punithavathi Nagar 1st Cross street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 2nd Cross street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar: 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 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 the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Punithavathi Nagar 1st Street?

The Sub Registrar Office that covers Punithavathi Nagar 1st 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 serves as a benchmark for property transactions in Gowrivakkam. When buying or selling property, this value is utilized to determine the applicable stamp duty and registration fees, ensuring that the transaction adheres to legal requirements.

It is essential for buyers and sellers to be aware of the guideline value when negotiating property prices, as it influences the overall cost of the transaction and the fees associated with registration.

Frequently asked questions

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

The current guideline value of Punithavathi Nagar 1st 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. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What are the other streets in Gowrivakkam with the same guideline value?

Other streets in Gowrivakkam that share the same guideline value of Rs 1,600 per sq.ft include Punithavathi Nagar 1st Cross street, Punithavathi Nagar 2nd Cross street, Punithavathi Nagar, Punithavathi Nagar 2nd Street, Punithavathi Nagar 3rd Cross Street, and Punithavathi Nagar 3rd Street.

What is the stamp duty for property in Punithavathi Nagar 1st Street?

The stamp duty for property in Punithavathi Nagar 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.

Where can I find the Sub Registrar Office for Punithavathi Nagar 1st Street?

The Sub Registrar Office covering Punithavathi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.