Guideline Value for Puviyathamman Koil Street

Puviyathamman Koil Street guideline value

The current guideline value of Puviyathamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Puviyathamman Koil Street has changed

The guideline value for Puviyathamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 412 per sq.ft. This increased to Rs 450 per sq.ft in 2003, marking a rise of 9%. By 2007, the value surged to Rs 550 per sq.ft, reflecting a 22% increase. The next revision in 2012 saw the value rise significantly to Rs 2,500 per sq.ft, which was a substantial increase of 355%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years between 2002 and 2007, and also for 2012 to 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 567%.

Guideline values in Saligramam

In Saligramam village, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Puviyathamman Koil Street's current value below this median.

• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Pushpa Colony: Rs 4,400 per sq.ft (2024)
• Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Prem Nagar (Bharathi Street.): Rs 3,300 per sq.ft (2024)
• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Puviyathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Puviyathamman Koil Street?

The Sub Registrar Office that covers Puviyathamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Saligramam. 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 buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Puviyathamman Koil Street?

The current guideline value of Puviyathamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 412 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 567% over the years.

What is the land classification of Puviyathamman Koil Street?

Puviyathamman Koil Street is classified as Residential Class III Type - II.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Saligramam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.