Guideline Value for Putherikarai Lane

Putherikarai Lane guideline value

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

How the guideline value of Putherikarai Lane has changed

The guideline value for Putherikarai Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023 and has now reached Rs 3,850 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 is an increase of 157%. The revisions for the years 2002 and 2003 have no figures recorded for Putherikarai Lane.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Putherikarai Lane is below this median.

• Putheri Colony: 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 Putherikarai Lane

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, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for accurate fee calculations.

Which Sub Registrar Office covers Putherikarai Lane?

The Sub Registrar Office that covers Putherikarai Lane is 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 is a crucial factor when registering property transactions in Velachery. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. It is important for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Putherikarai Lane?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification for Putherikarai Lane?

Putherikarai Lane is classified as Residential Class II Type - III, indicating its intended use for residential purposes.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Which office handles the registration for Putherikarai Lane?

The Velacheri Sub Registrar Office handles the registration for Putherikarai Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.