Guideline Value for Purusothaman Nagar 3rd Cross Street

Purusothaman Nagar 3rd Cross Street guideline value

The current guideline value of Purusothaman Nagar 3rd Cross Street is Rs 2,160 per sq.ft. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Purusothaman Nagar 3rd Cross Street has changed

The guideline value for Purusothaman Nagar 3rd Cross Street has experienced several revisions over the years. The earliest recorded figure is from 2003, which was Rs 297 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 35%. In 2012, the value saw a substantial increase to Rs 2,000 per sq.ft, reflecting a 400% jump. However, by 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The guideline value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,160 per sq.ft in the 2024 revision, which is an increase of 8%.

There is no recorded figure for the year 2002 for this street in the register. Overall, from 2003 to 2024, the guideline value has increased by 627%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which means that the guideline value of Purusothaman Nagar 3rd Cross Street is below this median.

• Purusothaman Nagar 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Purusothaman Nagar 1st Cross Street: Rs 2,160 per sq.ft (2024)
• Pudu Street: Rs 2,200 per sq.ft (2024)
• Ragavan Street: Rs 2,200 per sq.ft (2024)
• Rajamanickam Nagar: Rs 5,500 per sq.ft (2024)
• Rajendra Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Purusothaman Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Purusothaman Nagar 3rd Cross Street?

The Sub Registrar Office that covers Purusothaman Nagar 3rd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Purusothaman Nagar 3rd Cross Street?

The current guideline value of Purusothaman Nagar 3rd Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 297 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 627% since 2003.

What is the land classification of Purusothaman Nagar 3rd Cross Street?

Purusothaman Nagar 3rd Cross Street is classified as Residential Class III Type - I.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Purusothaman Nagar 3rd Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,94,400.