Guideline Value for Puthar Street

Puthar Street guideline value

The current guideline value of Puthar Street in Kolathur village, under the Sembiam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Puthar Street has changed

The guideline value for Puthar Street has undergone several revisions over the years. In 2002, the value was Rs 121 per sq.ft, which increased to Rs 132 per sq.ft in 2003. The next significant jump occurred in 2007, where the value rose dramatically to Rs 700 per sq.ft, marking an increase of 430%. By 2012, the guideline value remained at Rs 2,000 per sq.ft, and this figure was unchanged until 2023.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, and it saw an increase of 10% to reach Rs 2,200 per sq.ft in the 2024 revision. There is no figure available for the year 2017 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Puthar Street's 2024 figure is below that median.

• Punniakodi Nagar: Rs 2,200 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 2,200 per sq.ft (2024)
• Ragavendhara Nagar: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 12th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Puthar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puthar Street?

Puthar Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Puthar Street?

The current guideline value of Puthar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 121 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1718% over the years.

Is there a guideline value available for the year 2017?

No, the register does not have a figure for Puthar Street for the year 2017.

What are the stamp duty rates for property in Puthar Street?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can visit the office for registration services.