Guideline Value for Purushothaman Nagar Phase II

Purushothaman Nagar Phase II guideline value

The current guideline value of Purushothaman Nagar Phase II is Rs 1,650 per sq.ft. This area is located in Periyapanancheri village and falls under the Pammal SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Purushothaman Nagar Phase II has changed

The guideline value for Purushothaman Nagar Phase II has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has increased by 64%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was significant at 49%, reflecting the changes in the area over time.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, positioning Purushothaman Nagar Phase II above this median.

• Purushothaman Nagar: Rs 1,650 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Rukmani Street: Rs 1,320 per sq.ft (2024)
• N.S.K.Street: Rs 990 per sq.ft (2024)
• Sree Ambal Nagar: Rs 1,650 per sq.ft (2024)
• Mani Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Nagar Phase II

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, and 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Purushothaman Nagar Phase II?

The Sub Registrar Office that covers Purushothaman Nagar Phase II is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Periyapanancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Periyapanancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately according to government regulations.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local laws during the transaction process.

Frequently asked questions

What is the current guideline value of Purushothaman Nagar Phase II?

The current guideline value of Purushothaman Nagar Phase II 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 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

What is the median guideline value in Periyapanancheri?

The median guideline value in Periyapanancheri is Rs 1,320 per sq.ft, with Purushothaman Nagar Phase II's value being above this median.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Purushothaman Nagar Phase II is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Purushothaman Nagar Phase II?

The Sub Registrar Office for Purushothaman Nagar Phase II is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information online.