Guideline Value for Puthukoil Street

Puthukoil Street guideline value

The current guideline value of Puthukoil Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Puthukoil Street has changed

Since the 2012 revision, the guideline value for Puthukoil Street has seen various changes. The value was Rs 700 per sq.ft in 2012, which dropped to Rs 469 per sq.ft in 2017. However, it increased to Rs 700 per sq.ft in 2023 and has now risen to Rs 850 per sq.ft in the 2024 revision, marking a 21% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 to 2024 revisions, the guideline value has increased by 21%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, positioning Puthukoil Street's 2024 figure below that median.

• Radeshyam Avenue: Rs 2,400 per sq.ft (2024)
• Purananooru Street: Rs 1,300 per sq.ft (2024)
• Ragavendra Nagar: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Ragavendra Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Puthukoil Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, totaling Rs 76,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Puthukoil Street?

The Sub Registrar Office that covers Puthukoil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Rajakilpakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both parties to understand how the guideline value affects their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Puthukoil Street?

The current guideline value of Puthukoil Street is Rs 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 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and currently to Rs 850 per sq.ft in 2024.

What is the land classification of Puthukoil Street?

Puthukoil Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Puthukoil Street?

The Sub Registrar Office for Puthukoil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Puthukoil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 8,50,000 would incur a stamp duty of Rs 59,500 at 7%.