Guideline Value for Puthu Street 2nd Street

Puthu Street 2nd Street guideline value

The current guideline value of Puthu Street 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Puthu Street 2nd Street has changed

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

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

Guideline values in Thiruneermalai

In Thiruneermalai, 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 for these streets is Rs 2,420 per sq.ft, which means that Puthu Street 2nd Street's 2024 figure is below this median.

• Puthu Street 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 to 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puthu Street 2nd Street?

The Sub Registrar Office that covers Puthu Street 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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 Puthu Street 2nd Street?

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

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for streets in Thiruneermalai is Rs 2,420 per sq.ft, which is higher than the current value of Puthu Street 2nd Street.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.