Guideline Value for Puthumanai Kuppam 1st Street

Puthumanai Kuppam 1st Street guideline value

The current guideline value of Puthumanai Kuppam 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Puthumanai Kuppam 1st Street has changed

The guideline value for Puthumanai Kuppam 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, marking an overall increase of 62% from the 2017 figure. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

From 2023 to 2024, the guideline value increased by 8%. The jump from 2017 to 2023 was even more substantial, reflecting a rise of 49%. These changes highlight the evolving value of properties in this area.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, positioning Puthumanai Kuppam 1st Street's 2024 value below that median.

• Puthumanai Kuppam 2nd Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 3rd Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 4th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 5th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 6th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 7th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Puthumanai Kuppam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It's essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puthumanai Kuppam 1st Street?

The Sub Registrar Office that covers Puthumanai Kuppam 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must be aware of this value, as it impacts the overall cost of the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Puthumanai Kuppam 1st Street?

The current guideline value of Puthumanai Kuppam 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62%. There were no figures available for the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Puthumanai Kuppam 1st Street?

The Royapuram Sub Registrar Office is responsible for Puthumanai Kuppam 1st Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Puthumanai Kuppam 1st Street?

Puthumanai Kuppam 1st Street is classified as Residential Class II Type - I. This classification is important for understanding the zoning and usage regulations for properties in this area.