Guideline Value for Purusothaman Nagar

Purusothaman Nagar guideline value

The current guideline value of Purusothaman Nagar 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 has changed

The guideline value for Purusothaman Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017. The value then increased significantly to Rs 2,800 per sq.ft in 2023, before reaching the current rate of Rs 3,000 per sq.ft in 2024.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 7% increase. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Purusothaman Nagar's 2024 figure above that median.

• Purusothaman Nagar Extn: 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)
• Perumal Nagar Extn: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Purusothaman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purusothaman Nagar?

The Sub Registrar Office covering Purusothaman Nagar 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 is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the transaction is fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Purusothaman Nagar?

The current guideline value of Purusothaman Nagar 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?

Purusothaman Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

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

How do I calculate stamp duty for a property in Purusothaman Nagar?

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