Guideline Value for PUGALENDHI STREET

Pugalendhi Street guideline value

The current guideline value of Pugalendhi Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Pugalendhi Street has changed

The guideline value for Pugalendhi Street has seen significant changes over the years. In the 2002 revision, the value was Rs 92 per sq.ft. This increased to Rs 109 per sq.ft in 2003, marking an increase of 18%. The value continued to rise, reaching Rs 400 per sq.ft in 2007, which was a substantial increase of 267%. The next revision in 2012 maintained the value at Rs 1,200 per sq.ft, showing no change from the previous figure.

In 2023, the guideline value was again set at Rs 1,200 per sq.ft, with no increase from 2012. However, in the 2024 revision, the value increased by 10% to Rs 1,320 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1,335% for Pugalendhi Street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. These values range from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The current guideline value of Pugalendhi Street is below this median.

• Pugavanathamman Street: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Muvendhar Street: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Iyyapan Street: Rs 1,320 per sq.ft (2024)
• Pushpa Street: Rs 1,320 per sq.ft (2024)
• Prabhu Nagar Anexe: Rs 1,320 per sq.ft (2024)
• Prabhu Nagar 3rd Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Pugalendhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total fees would be Rs 1,18,800. It is important to note that the 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 more details on applicable fees.

Which Sub Registrar Office covers Pugalendhi Street?

Pugalendhi Street is covered by the Chennai South Joint I Sub Registrar Office, located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value of a property, which is used for calculating stamp duty and registration fees during the transaction process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value helps in assessing the fair value of the property, ensuring that all parties involved are aware of the official valuation set by the authorities. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Pugalendhi Street?

The current guideline value of Pugalendhi Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 92 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,335% over this period.

What is the registration office for Pugalendhi Street?

The registration office for Pugalendhi Street is the Chennai South Joint I Sub Registrar Office, located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for properties on Pugalendhi Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

What other streets have the same guideline value in Pallikaranai?

Other streets in Pallikaranai that share the same guideline value of Rs 1,320 per sq.ft include Pugavanathamman Street, Pudhuthangal Muvendhar Street, Pudhuthangal Iyyapan Street, Pushpa Street, and Prabhu Nagar Anexe.