Guideline Value for PUGAVANATHAMMAN STREET

Pugavanathamman Street guideline value

The current guideline value of Pugavanathamman 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, classified as Residential Class IV Type - II.

How the guideline value of Pugavanathamman Street has changed

The guideline value for Pugavanathamman Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. However, this figure dropped to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and finally to Rs 1,320 per sq.ft in the 2024 revision, marking an increase of 10% from the previous year.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Pugavanathamman Street's 2024 figure is below that median.

• Pugalendhi 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 Pugavanathamman Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling 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 further calculations.

Which Sub Registrar Office covers Pugavanathamman Street?

The Sub Registrar Office that covers Pugavanathamman Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Pugavanathamman Street?

The current guideline value of Pugavanathamman 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Pallikaranai with similar guideline values?

Other streets in Pallikaranai with a guideline value of Rs 1,320 per sq.ft include Pugalendhi Street, Pudhuthangal Muvendhar Street, Pudhuthangal Iyyapan Street, Pushpa Street, and Prabhu Nagar Anexe.

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.