Guideline Value for PUDDHAPIRAN STREET

Puddhapiran Street guideline value

The current guideline value for Puddhapiran Street in Chinnasekkadu village, under the Thiruvottiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Puddhapiran Street has changed

The guideline value for Puddhapiran Street has seen several revisions over the years. In 2002, the value was Rs 157 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 16% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, reflecting a 175% change. Following this, the value rose to Rs 1,200 per sq.ft in 2012, a 140% increase. However, it dropped to Rs 804 per sq.ft in 2017, showing a decline of 33%. The guideline value then increased to Rs 1,200 per sq.ft in 2023, followed by the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 728%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which means Puddhapiran Street's current value is above this median.

• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)
• Ponnuswamy Street: Rs 1,001 per sq.ft (2024)
• Raghavan Street: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street/Mallikai Nagar: Rs 1,001 per sq.ft (2024)
• Raji Street / Raji Naickan Street: Rs 1,300 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Puddhapiran 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, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more assistance.

Which Sub Registrar Office covers Puddhapiran Street?

The Sub Registrar Office that covers Puddhapiran Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Chinnasekkadu. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the prevailing rates in the area. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Puddhapiran Street?

The current guideline value for Puddhapiran 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 157 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting a total increase of 728% over the years.

What is the stamp duty for property in Puddhapiran Street?

The stamp duty for property in Puddhapiran Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Chinnasekkadu?

The median guideline value for streets in Chinnasekkadu is Rs 1,100 per sq.ft, with Puddhapiran Street's current value above this median.