Guideline Value for Purushothama 2nd Street

Purushothama 2nd Street guideline value

The current guideline value of Purushothama 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Purushothama 2nd Street has changed

Over the years, the guideline value of Purushothama 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. 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 1,650 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Purushothama 2nd Street.

• Purushothama Ist Street: Rs 1,650 per sq.ft (2024)
• Purananuru Street: Rs 1,650 per sq.ft (2024)
• Purushothama Street: Rs 1,650 per sq.ft (2024)
• Puthther street: Rs 1,100 per sq.ft (2024)
• Pugalendhi Street: Rs 2,750 per sq.ft (2024)
• Queen Elizabeth Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothama 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Purushothama 2nd Street?

The Sub Registrar Office that covers Purushothama 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that the transaction is officially recognized and documented by the authorities.

Frequently asked questions

What is the current guideline value of Purushothama 2nd Street?

The current guideline value of Purushothama 2nd Street is Rs 1,650 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Purushothama 2nd Street?

Purushothama 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Purushothama 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.