Guideline Value for Purusothaman Nagar Extn

Purusothaman Nagar Extn guideline value

The current guideline value of Purusothaman Nagar Extn is Rs 3,000 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Purusothaman Nagar Extn has changed

The guideline value for Purusothaman Nagar Extn has seen several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,876 per sq.ft. The value then increased significantly to Rs 2,800 per sq.ft in 2023, and further rose to Rs 3,000 per sq.ft in 2024.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The recent change from 2023 to 2024 reflects a 7% increase in the guideline value. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value of these streets is Rs 1,900 per sq.ft, indicating that the 2024 guideline value of Rs 3,000 per sq.ft for Purusothaman Nagar Extn is above the median.

• Purusothaman Nagar: Rs 3,000 per sq.ft (2024)
• Ragavan Nagar: Rs 1,600 per sq.ft (2024)
• Ragavendra avenue: Rs 1,600 per sq.ft (2024)
• Rajammal Nager: Rs 1,900 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,600 per sq.ft (2024)
• Raj Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Purusothaman Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, making the total Rs 2,70,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Purusothaman Nagar Extn?

The Sub Registrar Office that covers Purusothaman Nagar Extn is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Puthagaram. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Purusothaman Nagar Extn?

The current guideline value of Purusothaman Nagar Extn is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification of Purusothaman Nagar Extn?

Purusothaman Nagar Extn is classified as Residential Special Type - II, which influences its guideline value and usage regulations.

Where can I find the Sub Registrar Office for Purusothaman Nagar Extn?

The Sub Registrar Office for Purusothaman Nagar Extn is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 30,00,000 would incur a stamp duty of Rs 2,10,000 at 7%.