Guideline Value for PUNJAB GARDEN STREET

Punjab Garden Street guideline value

The current guideline value of Punjab Garden Street, located in Puliyur village under the Kodambakkam SRO, is Rs 6,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - III land classification.

How the guideline value of Punjab Garden Street has changed

The guideline value for Punjab Garden Street has undergone several revisions over the years. In 2003, the value was Rs 931 per sq.ft, which increased to Rs 1,650 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 5,800 per sq.ft in 2012, before dropping to Rs 3,886 per sq.ft in 2017. The value then increased to Rs 5,800 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 6,300 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

From 2017 to 2023, the value increased by 49%, while from 2023 to 2024, it saw a rise of 9%. The period from 2007 to 2012 witnessed a remarkable increase of 252%. Overall, the guideline value has increased by 577% from 2003 to 2024.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, making the 2024 value of Punjab Garden Street above this median.

• Puliyur Puram: Rs 3,800 per sq.ft (2024)
• Puliyur Main Road: Rs 8,200 per sq.ft (2024)
• Puliyur 2nd Main Road: Rs 7,100 per sq.ft (2024)
• Puliyur 2nd Lane: Rs 5,800 per sq.ft (2024)
• Puliyur 1st Main Road: Rs 7,100 per sq.ft (2024)
• Puliyur 1st Lane: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Punjab Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty, charged at 7%, would be Rs 4,41,000, while the registration fee at 2% would be Rs 1,26,000. Together, these fees would total Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punjab Garden Street?

The Sub Registrar Office that covers Punjab Garden Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are essential components of the property buying and selling process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is not undervalued for registration purposes. This helps maintain transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Punjab Garden Street?

The current guideline value of Punjab Garden Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 931 per sq.ft in 2003 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 577% over this period.

What is the land classification for Punjab Garden Street?

Punjab Garden Street is classified as Residential Special Type - III under the land classification system.

Where can I find the registration office for Punjab Garden Street?

The registration office for Punjab Garden Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee Rs 1,26,000.