Guideline Value for PUSHPA NAGAR VINODH STREET

Pushpa Nagar Vinodh Street guideline value

The current guideline value of Pushpa Nagar Vinodh Street is Rs 2,750 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Pushpa Nagar Vinodh Street has changed

The guideline value for Pushpa Nagar Vinodh Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the Rs 1,675 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Pushpa Nagar Vinodh Street above the median.

• Pushpa Nagar Shanthi Street: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Santhanam Street: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Graiceking Pallisalai: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Extn: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Bharat Street: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Bharat Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Nagar Vinodh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pushpa Nagar Vinodh Street?

The Sub Registrar Office that covers Pushpa Nagar Vinodh 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 Medavakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pushpa Nagar Vinodh Street?

The current guideline value of Pushpa Nagar Vinodh Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, with various revisions occurring in between, including a notable increase of 49% from 2017 to 2023.

What is the land classification for Pushpa Nagar Vinodh Street?

The land classification for Pushpa Nagar Vinodh Street is Commercial Class I Type - III, indicating its suitability for commercial activities.

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

Several other streets in Medavakkam also carry the same guideline value of Rs 2,750 per sq.ft in 2024, including Pushpa Nagar Shanthi Street, Pushpa Nagar Santhanam Street, and others.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.