Guideline Value for Puthu Nagar (New nagar)2nd Street & 3 Street

Puthu Nagar (New nagar)2nd Street & 3 Street guideline value

The current guideline value for Puthu Nagar (New nagar)2nd Street & 3 Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Puthu Nagar (New nagar)2nd Street & 3 Street has changed

The guideline value for Puthu Nagar (New nagar)2nd Street & 3 Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 25%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has been revised to Rs 4,900 per sq.ft in 2024, reflecting a 9% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is the same as the current value for Puthu Nagar (New nagar)2nd Street & 3 Street.

• Puthu Nagar (New nagar)Ist Street: Rs 4,900 per sq.ft (2024)
• Punitha Sagaya Madha Street, 27th Street, G.K.M.Colony: Rs 4,400 per sq.ft (2024)
• Punitha Antoniyar Street, Chennai 82: Rs 4,900 per sq.ft (2024)
• Railway Colony: Rs 4,400 per sq.ft (2024)
• Raja BoothStreet, Chennai 82: Rs 4,400 per sq.ft (2024)
• Poosanam Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Puthu Nagar (New nagar)2nd Street & 3 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puthu Nagar (New nagar)2nd Street & 3 Street?

The Sub Registrar Office that covers Puthu Nagar (New nagar)2nd Street & 3 Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Ayanavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

During the registration process, the guideline value helps in assessing the property's worth, which is crucial for compliance with local regulations. Buyers and sellers should be aware of these values to ensure accurate financial planning for their transactions.

Frequently asked questions

What is the current guideline value for Puthu Nagar (New nagar)2nd Street & 3 Street?

The current guideline value for Puthu Nagar (New nagar)2nd Street & 3 Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 390% over the years.

What is the land classification for this area?

Puthu Nagar (New nagar)2nd Street & 3 Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

What are the stamp duty and registration fees for properties here?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 49,00,000, the total fees would amount to Rs 4,41,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Puthu Nagar (New nagar)2nd Street & 3 Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details through the provided link.