Guideline Value for Purushothama Street

Purushothama Street guideline value

The current guideline value of Purushothama Street is Rs 1,650 per sq.ft. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Purushothama Street has changed

The guideline value for Purushothama Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no guideline value figures available for Purushothama Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

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

• Purushothama Ist Street: Rs 1,650 per sq.ft (2024)
• Purushothama 2nd Street: Rs 1,650 per sq.ft (2024)
• Purananuru 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 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. Together, the total fees would be Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purushothama Street?

The Sub Registrar Office that covers Purushothama Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 when registering a property in Chitlapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Purushothama Street?

The current guideline value of Purushothama 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 seen several revisions, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a change of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What is the land classification for Purushothama Street?

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

How is the stamp duty calculated for properties in Chitlapakkam?

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