Guideline Value for Punithavathi Nagar 4th Street

Punithavathi Nagar 4th Street guideline value

The current guideline value of Punithavathi Nagar 4th 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 4th Street has changed

The guideline value for Punithavathi Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and finally, it reached Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, 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 that carry 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, indicating that the guideline value for Punithavathi Nagar 4th Street is below this median.

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

Stamp duty and registration fee for property in Punithavathi Nagar 4th 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, bringing the total 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 more details.

Which Sub Registrar Office covers Punithavathi Nagar 4th Street?

The Sub Registrar Office that covers Punithavathi Nagar 4th 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 during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is properly documented and taxed according to the prevailing rates.

Buyers and sellers must be aware that the guideline value can differ significantly from the actual sale price. The registration office will charge the stamp duty based on the higher of the guideline value or the sale price, which is an essential consideration for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar 4th Street?

The current guideline value of Punithavathi Nagar 4th 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 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 4th Street?

Punithavathi Nagar 4th Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

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 property in Punithavathi Nagar 4th 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 rate, the stamp duty would be Rs 1,12,000 at 7% of the guideline value.