Guideline Value for Purananuru Street

Purananuru Street guideline value

The current guideline value of Purananuru Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Purananuru Street has changed

The guideline value for Purananuru Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 400 per sq.ft. This increased substantially to Rs 2,200 per sq.ft in the 2012 revision, marking a 450% rise. However, in the 2017 revision, it dropped to Rs 1,474 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,200 per sq.ft in the 2023 revision, followed by the current value of Rs 2,380 per sq.ft in the 2024 revision, which represents an 8% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 495%. The changes between revisions demonstrate fluctuations, with the most notable increase occurring from 2007 to 2012 and the most recent increment from 2023 to 2024.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Purananuru Street's 2024 figure below that median.

• Purusothaman Nagar: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Purusothaman Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Purananuru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value amounts to Rs 23,80,000. The stamp duty at 7% would be Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total to Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Purananuru Street?

The Sub Registrar Office that covers Purananuru Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, regardless of market fluctuations.

Frequently asked questions

What is the current guideline value of Purananuru Street?

The current guideline value of Purananuru Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024. Notable revisions include a rise to Rs 2,200 per sq.ft in 2012 and a decrease to Rs 1,474 per sq.ft in 2017.

What are the other guideline values in Hastinapuram?

In Hastinapuram, the guideline values for other streets range from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Purananuru Street's value is below this median.

What are the stamp duty and registration fees for properties in Purananuru Street?

For a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600 and the registration fee would be Rs 47,600, totaling Rs 2,14,200. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Purananuru Street?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, is responsible for registrations in Purananuru Street.