Guideline Value for Purushothaman Nagar

Purushothaman Nagar guideline value

The current guideline value of Purushothaman Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Erivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Purushothaman Nagar has changed

The guideline value for Purushothaman Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased to Rs 200 per sq.ft in the 2012 revision. However, it decreased to Rs 134 per sq.ft in the 2017 revision before returning to Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 33%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Purushothaman Nagar's 2024 figure below that median.

• Priyadharshini Nagar: Rs 250 per sq.ft (2024)
• Sai Lakshmi Township: Rs 500 per sq.ft (2024)
• Saroja Nagar Phase-I: Rs 250 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 300 per sq.ft (2024)
• Krishna Nagar: Rs 400 per sq.ft (2024)
• Kowsalya Nagar Phase-I: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Purushothaman Nagar?

The Sub Registrar Office covering Purushothaman Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Purushothaman Nagar?

The current guideline value of Purushothaman Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the most recent revisions in 2023 and 2024 both set at Rs 200 per sq.ft. The value was Rs 134 per sq.ft in 2017, showing a 49% increase to 2023.

What are the stamp duty and registration fees for property in Purushothaman Nagar?

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000 and the registration fee is Rs 4,000, totaling Rs 18,000. This is based on the guideline value of Rs 200 per sq.ft.

Which Sub Registrar Office serves Purushothaman Nagar?

The Gooduvancheri Sub Registrar Office serves Purushothaman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the land classification for Purushothaman Nagar?

Purushothaman Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.