Guideline Value for Puthu Street 1st Street

Puthu Street 1st Street guideline value

The current guideline value of Puthu Street 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Puthu Street 1st Street has changed

The guideline value for Puthu Street 1st Street has seen several revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was a change of +28%. The value then rose significantly to Rs 1,340 per sq.ft in 2017, marking an increase of +235%. Following that, the 2023 revision set the value at Rs 2,000 per sq.ft, reflecting a +49% change from the previous revision. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, a +10% increase.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +605%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this area is Rs 2,420 per sq.ft, placing Puthu Street 1st Street's 2024 figure below that median.

• Puthu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Puganethzhi Street: Rs 2,420 per sq.ft (2024)
• Pudhu Street Chandhu: Rs 2,200 per sq.ft (2024)
• Pudhu Street 3rd Street: Rs 2,200 per sq.ft (2024)
• Rajeev Gandhi Nagar (All Streets): Rs 2,200 per sq.ft (2024)
• Ponappan Street: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Puthu Street 1st 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. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the 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 information on the fees applicable to your property transaction.

Which Sub Registrar Office covers Puthu Street 1st Street?

The Puthu Street 1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Thiruneermalai. It is used to determine the stamp duty and registration fees that are applicable during the registration process. This ensures that the transaction is recorded at a fair value as per the government guidelines.

When registering a property, the guideline value is considered to ensure compliance with the legal requirements. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Puthu Street 1st Street?

The current guideline value of Puthu Street 1st 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 from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing an overall increase of +605% over the years.

What are the stamp duty and registration fees for property in Puthu Street 1st Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Puthu Street 1st Street?

The Puthu Street 1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Puthu Street 1st Street?

Puthu Street 1st Street is classified as Residential Class I Type - II according to the guidelines set by the registration department.