Guideline Value for Puratchi Thalaivi Nagar 2nd Street

Puratchi Thalaivi Nagar 2nd Street guideline value

The current guideline value of Puratchi Thalaivi Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of Puratchi Thalaivi Nagar 2nd Street has changed

The guideline value for Puratchi Thalaivi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 229 per sq.ft. This saw a significant increase to Rs 1,000 per sq.ft in 2007, followed by a rise to Rs 1,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,005 per sq.ft. The most notable increase occurred between 2017 and 2023, where the guideline value jumped to Rs 1,500 per sq.ft, and then further increased to Rs 1,700 per sq.ft in 2024, marking a 13% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 642%. The register has no figure for the year 2002 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft, and a median value of Rs 3,900 per sq.ft. Puratchi Thalaivi Nagar 2nd Street's 2024 guideline value is below this median.

• Puratchi Thalaivi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• 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 11th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 6th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Puratchi Thalaivi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puratchi Thalaivi Nagar 2nd Street?

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. This helps in avoiding any potential disputes related to property valuation and registration.

Frequently asked questions

What is the current guideline value of Puratchi Thalaivi Nagar 2nd Street?

The current guideline value of Puratchi Thalaivi Nagar 2nd 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 from Rs 229 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 642% over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam for 2024 is Rs 3,900 per sq.ft, while Puratchi Thalaivi Nagar 2nd Street's value is below this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Puratchi Thalaivi Nagar 2nd Street?

The Adayar Sub Registrar Office handles the registration for Puratchi Thalaivi Nagar 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.