Guideline Value for Puratchi Thalaivi Nagar 3rd Street

Puratchi Thalaivi Nagar 3rd Street guideline value

The current guideline value of Puratchi Thalaivi Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class V Type - III land classification.

How the guideline value of Puratchi Thalaivi Nagar 3rd Street has changed

The guideline value for Puratchi Thalaivi Nagar 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 229 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2007, marking a 337% rise. The value then rose to Rs 1,500 per sq.ft in 2012, but saw a decrease of 33% to Rs 1,005 per sq.ft by 2017. Following this, the value increased by 49% to Rs 1,500 per sq.ft in 2023, and has now risen to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase.

It is important to note that the register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 642%.

Guideline values in Kottivakkam

In Kottivakkam village, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Puratchi Thalaivi Nagar 3rd Street is below this median.

• Puratchi Thalaivi Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Puratchi Thalaivi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Puratchi Thalaivi Nagar 3rd Street?

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are registered at a value that reflects the current market conditions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Puratchi Thalaivi Nagar 3rd Street?

The current guideline value of Puratchi Thalaivi Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 229 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 642% over this period.

What is the land classification for Puratchi Thalaivi Nagar 3rd Street?

Puratchi Thalaivi Nagar 3rd Street is classified under Residential Class V Type - III.

Which office handles registrations for this area?

The Adayar Sub Registrar Office handles registrations for Puratchi Thalaivi Nagar 3rd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the stamp duty rates applicable in Kottivakkam?

The stamp duty rate in Kottivakkam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.