Guideline Value for PUSHPA NAGAR 3RD CROSS STREET

Pushpa Nagar 3rd Cross Street guideline value

The current guideline value of Pushpa Nagar 3rd 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 3rd Cross Street has changed

The guideline value for Pushpa Nagar 3rd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, positioning Pushpa Nagar 3rd Cross Street below this median.

• Pushpa Nagar 2nd 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 1st Main Road: Rs 1,650 per sq.ft (2024)
• Puspha Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Puspha Nagar Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Nagar 3rd 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 would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pushpa Nagar 3rd Cross Street?

The Sub Registrar Office that covers Pushpa Nagar 3rd 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 details.

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

The guideline value is a crucial factor in property transactions in Iyyappanthangal, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Pushpa Nagar 3rd Cross Street?

The current guideline value of Pushpa Nagar 3rd 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Iyyappanthangal with the same guideline value?

Other streets in Iyyappanthangal with the same guideline value of Rs 1,650 per sq.ft include Pushpa Nagar 2nd Cross Street, Pushpa Nagar 4th Cross Street, Pushpa Nagar 5th Cross Street, Pushpa Nagar 1st Main Road, Puspha Nagar 2nd Street, and Puspha Nagar Cross Street.

How is stamp duty calculated for properties in Pushpa Nagar 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

Which authority manages the guideline values in this area?

The guideline values in this area are managed by the Registration Department's guideline value register, specifically under the Chennai South Joint I SRO.