Guideline Value for Purusothaman Street

Purusothaman Street guideline value

The current guideline value of Purusothaman Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Purusothaman Street has changed

The guideline value for Purusothaman Street has seen several revisions over the years. In 2003, the value was Rs 832 per sq.ft, which increased to Rs 900 per sq.ft in 2007. The 2012 revision brought the value to Rs 3,000 per sq.ft, but it then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

In terms of percentage changes, the value increased by 8% from 2003 to 2007, followed by a substantial increase of 233% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then surged by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 297%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Purusothaman Street.

• Pudu Street: Rs 4,400 per sq.ft (2024)
• Railway Colony: Rs 3,300 per sq.ft (2024)
• Railway Station Cross Street: Rs 4,950 per sq.ft (2024)
• Railway Station Road: Rs 4,950 per sq.ft (2024)
• P.P.Amman Koil St, Western Portion: Rs 3,300 per sq.ft (2024)
• Ponds Colony/Company: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Purusothaman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 Purusothaman Street?

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

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

The guideline value plays a crucial role in property transactions in Issa Pallavaram. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must ensure that the transaction is registered at the Sub Registrar Office, where the guideline value will be referenced to calculate the necessary fees.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is conducted transparently. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Purusothaman Street?

The current guideline value of Purusothaman 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 832 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 297% over this period.

What is the land classification of Purusothaman Street?

Purusothaman Street is classified as Residential Class I Type - II under the current guidelines.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Purusothaman Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.