Guideline Value for PUSHPA NAGAR 2ND CROSS STREET

Pushpa Nagar 2nd Cross Street guideline value

The current guideline value of Pushpa Nagar 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pushpa Nagar 2nd Cross Street has changed

The guideline value for Pushpa Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, the value saw a significant increase to Rs 1,500 per sq.ft in 2023, and then rose again to the current rate of Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, 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 Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Pushpa Nagar 2nd Cross Street's 2024 figure below that median.

• Pushpa Nagar 1st Main Road: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pushpa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Pushpa Nagar 2nd Cross 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 Iyyappanthangal

When buying or selling property in Iyyappanthangal, the guideline value is a crucial factor during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with state regulations.

The guideline value is particularly important as it reflects the minimum value at which a property can be registered. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can significantly influence the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Pushpa Nagar 2nd Cross Street?

The current guideline value of Pushpa Nagar 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, then rising to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,650 per sq.ft in 2024.

What is the land classification for Pushpa Nagar 2nd Cross Street?

Pushpa Nagar 2nd Cross Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Pushpa Nagar 2nd Cross 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.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Pushpa Nagar 2nd Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.