Guideline Value

Corporate

Guideline Value for PUSHPA AVENUE

₹3300/sq.ft.

The guideline value for Pushpa Avenue in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹275 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹246 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Pushpa Avenue guideline value

The current guideline value of Pushpa Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Pushpa Avenue has changed

The guideline value for Pushpa Avenue has seen several revisions over the years. In 2002, the value was Rs 246 per sq.ft, which increased to Rs 275 per sq.ft in 2003. The subsequent revision in 2007 saw a significant jump to Rs 700 per sq.ft, followed by a rise to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2002 to 2024, there has been an overall increase of 1,241%. The most significant increase occurred between 2007 and 2012, with a rise of 329%. The value decreased by 33% from 2012 to 2017, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Pushpa Avenue.

Stamp duty and registration fee for property in Pushpa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pushpa Avenue?

The Sub Registrar Office that covers Pushpa Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

When a buyer or seller engages in a property transaction, the guideline value is referenced to determine the minimum value at which the property can be registered. This means that even if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pushpa Avenue?

The current guideline value of Pushpa Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 246 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,241% over the years.

What is the stamp duty rate for property in Pushpa Avenue?

The stamp duty rate for property in Pushpa Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, which is the same as the guideline value for Pushpa Avenue.