Guideline Value for Purushothaman Street

Purushothaman Street guideline value

The current guideline value of Purushothaman Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Purushothaman Street has changed

Over the years, the guideline value of Purushothaman Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 481 per sq.ft, which increased to Rs 526 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 1,000 per sq.ft in 2007, reflecting a substantial 90% increase. In 2012, the guideline value was Rs 3,000 per sq.ft, which was a 200% increase from the previous revision. However, the value dropped by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has risen by 586%. There are no revisions for this street in the years not listed in the register.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for the village is Rs 4,400 per sq.ft, making the guideline value of Purushothaman Street below this median.

• Pushpa Colony: Rs 4,400 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)
• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Prem Nagar (Bharathi Street.): Rs 3,300 per sq.ft (2024)
• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Purushothaman Street?

The Sub Registrar Office that covers Purushothaman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial reference point for property transactions in Saligramam. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are fairly assessed and that the government receives the correct amount of revenue from property sales.

Frequently asked questions

What is the current guideline value of Purushothaman Street?

The current guideline value of Purushothaman Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 481 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 586% across the years.

What is the land classification for Purushothaman Street?

Purushothaman Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Purushothaman Street?

The Virugambakkam Sub Registrar Office handles property registrations for Purushothaman Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.