Guideline Value for Puthar Street

Puthar Street guideline value

The current guideline value of Puthar Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Puthar Street has changed

Starting from the 2007 revision, the guideline value was Rs 200 per sq.ft. It increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, a drop of 33%. The value then rose to Rs 500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for Puthar Street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that Puthar Street's 2024 figure is below this median.

• Rajaraja Chozhan Pudhu Nagar Part-II: Rs 550 per sq.ft (2024)
• Rajaraja Chozhan Puthu Nagar: Rs 550 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 660 per sq.ft (2024)
• Periyar Street: Rs 1,320 per sq.ft (2024)
• Ramya Garden: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Puthar Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puthar Street?

The Sub Registrar Office that covers Puthar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Sholavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in real estate dealings.

Frequently asked questions

What is the current guideline value of Puthar Street?

The current guideline value of Puthar Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification of Puthar Street?

Puthar Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Puthar Street?

The Redhills Sub Registrar Office covers Puthar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Puthar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a total stamp duty and registration fee of Rs 49,500.