Guideline Value for Putheri Colony

Putheri Colony guideline value

The current guideline value of Putheri Colony, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Putheri Colony has changed

The guideline value for Putheri Colony has undergone several revisions over the years. Starting from Rs 343 per sq.ft in 2002, it increased significantly to Rs 1,500 per sq.ft in 2007, marking a rise of 337%. In 2012, the value remained at Rs 3,500 per sq.ft, but then it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value saw a notable increase to Rs 3,500 per sq.ft in 2023, followed by a further rise to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

There is no guideline value figure available for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1022%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Putheri Colony's 2024 figure below this median.

• Putherikarai Lane: Rs 3,850 per sq.ft (2024)
• Putherikarai Street: Rs 3,850 per sq.ft (2024)
• Race Cource Road: Rs 3,850 per sq.ft (2024)
• Raceveiw colony 1st Street: Rs 3,850 per sq.ft (2024)
• Raceveiw colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Raceveiw colony 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Putheri Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Putheri Colony?

Putheri Colony falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery, as it is used to determine the stamp duty and registration fees that buyers must pay. When a property is sold, the guideline value is considered alongside the sale price to ensure that the appropriate fees are calculated based on the higher amount.

Frequently asked questions

What is the current guideline value of Putheri Colony?

The current guideline value of Putheri Colony is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 343 per sq.ft to Rs 3,850 per sq.ft in 2024, marking a significant overall increase of 1022%.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with Putheri Colony's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Putheri Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500, which includes a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.

Which office handles registrations for Putheri Colony?

The Velacheri Sub Registrar Office handles registrations for Putheri Colony, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.