Guideline Value for Puratchi Thalaivi Nagar 7th Street

Puratchi Thalaivi Nagar 7th Street guideline value

The current guideline value of Puratchi Thalaivi Nagar 7th 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 is classified as Residential Class V Type - III.

How the guideline value of Puratchi Thalaivi Nagar 7th Street has changed

Over the years, the guideline value of Puratchi Thalaivi Nagar 7th Street has seen significant changes. The register shows that in 2003, the value was Rs 229 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following that, in 2012, it rose to Rs 1,500 per sq.ft, but then dropped to Rs 1,005 per sq.ft in 2017. The value increased again to Rs 1,500 per sq.ft in 2023 and has now reached Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

In total, from 2003 to 2024, the guideline value has increased by 642%. Notably, there is no figure available for the year 2002 for this street in the register.

Guideline values in Kottivakkam

Kottivakkam village has a range of guideline values, with 284 streets under the Adayar SRO carrying a 2024 figure that ranges from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing the 2024 figure for Puratchi Thalaivi Nagar 7th Street below that median.

• Puratchi Thalaivi Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 9th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Puratchi Thalaivi Nagar Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Puratchi Thalaivi Nagar 7th Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would amount 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, resulting in a total of Rs 1,53,000 for these charges. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Puratchi Thalaivi Nagar 7th Street?

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 7th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing a property.

When a property is sold, the sale price is compared with the guideline value, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Puratchi Thalaivi Nagar 7th Street?

The current guideline value of Puratchi Thalaivi Nagar 7th 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, marking an overall increase of 642% over this period.

What is the land classification for Puratchi Thalaivi Nagar 7th Street?

Puratchi Thalaivi Nagar 7th Street is classified as Residential Class V Type - III.

What is the median guideline value in Kottivakkam?

The median guideline value for streets in Kottivakkam is Rs 3,900 per sq.ft, which is higher than the current guideline value for Puratchi Thalaivi Nagar 7th Street.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find more information about it online.