Guideline Value for Purushothaman Nagar

Purushothaman Nagar guideline value

The current guideline value of Purushothaman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class I 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 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 700% rise. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 780%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Purushothaman Nagar's 2024 guideline value is below this median.

• Purushothaman Nagar Extn: Rs 1,320 per sq.ft (2024)
• Radhakrishna Nagar Extension - 4: Rs 1,650 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)
• Prithiv Avenue: Rs 1,980 per sq.ft (2024)
• Premier Garden Phase -II: Rs 2,420 per sq.ft (2024)
• Premier Garden Phase -I: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purushothaman Nagar?

The Sub Registrar Office that covers Purushothaman Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on current market conditions. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Purushothaman Nagar?

The current guideline value of Purushothaman Nagar is Rs 1,320 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 150 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram is Rs 1,650 per sq.ft, while Purushothaman Nagar's current value is below this median.

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

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800 based on the current guideline value.

Which office handles property registrations in Purushothaman Nagar?

The Padappai Sub Registrar Office handles property registrations in Purushothaman Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.