Guideline Value for Punithavathi Nagar

Punithavathi Nagar guideline value

The current guideline value of Punithavathi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Gowrivakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Punithavathi Nagar has changed

The guideline value for Punithavathi Nagar 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 the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a significant decrease of 33%, but the overall change from 2012 to 2024 shows a modest increase of 7%. The most notable increase was between the 2017 and 2023 revisions, which saw a rise of 49%.

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. Punithavathi Nagar's current guideline value is below this median.

• Punithavathi Nagar 1st Cross street: 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

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. Therefore, the total cost for stamp duty and registration fees would be Rs 1,44,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Punithavathi Nagar?

The Sub Registrar Office that covers Punithavathi Nagar 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 here.

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

The guideline value plays a crucial role in property transactions in Gowrivakkam. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue from property sales. Buyers and sellers must consider this value when determining the sale price of the property.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. It is important to note that the duty is charged based on the higher of the guideline value or the actual sale price, which can impact the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar?

The current guideline value of Punithavathi Nagar 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 of Punithavathi Nagar?

Punithavathi Nagar is classified as Residential Special Type - II, which indicates its suitability for residential developments.

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

The Sub Registrar Office for Punithavathi Nagar 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?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.