Guideline Value for Purusothaman Nagar 2nd Cross Street

Purusothaman Nagar 2nd Cross Street guideline value

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

Over the years, the guideline value of Purusothaman Nagar 2nd Cross Street has seen significant changes. The register shows that in 2003, the guideline value was Rs 297 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023 and is currently Rs 2,160 per sq.ft as of the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw an increase of 8%. The overall increase from 2003 to 2024 is a substantial 627%, reflecting the changes in the property landscape over the years.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft, and the median value is Rs 2,530 per sq.ft. The guideline value of Purusothaman Nagar 2nd Cross Street is below this median.

• Purusothaman Nagar 3rd 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 2nd 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 to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Purusothaman Nagar 2nd Cross Street?

The Sub Registrar Office that covers Purusothaman Nagar 2nd 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 additional information.

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

The guideline value plays a crucial role during property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is sold, the guideline value is considered by the registration authorities to assess the appropriate fees. If the sale price is higher than the guideline value, the duty is charged on the sale price instead.

Frequently asked questions

What is the current guideline value of Purusothaman Nagar 2nd Cross Street?

The current guideline value of Purusothaman Nagar 2nd 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 seen significant changes, increasing from Rs 297 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, which is an overall increase of 627% over the years.

What is the stamp duty for property in Purusothaman Nagar 2nd Cross Street?

The stamp duty for property in Purusothaman Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Purusothaman Nagar 2nd Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Purusothaman Nagar 2nd Cross Street?

Purusothaman Nagar 2nd Cross Street is classified as Residential Class III Type - I, indicating its suitability for residential development.