Guideline Value for PUSHPA STREET

Pushpa Street guideline value

The current guideline value for Pushpa Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Pushpa Street has changed

The guideline value for Pushpa Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, reflecting a significant increase of 49% when compared to the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision.

Notably, there are no figures available for Pushpa Street in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,650 per sq.ft, which means that Pushpa Street's current guideline value is below this median.

• Radhakrishnan Street: Rs 1,110 per sq.ft (2024)
• Pugavanathamman Street: Rs 1,320 per sq.ft (2024)
• Pugalendhi Street: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Muvendhar Street: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Iyyapan Street: Rs 1,320 per sq.ft (2024)
• Raghavendra Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pushpa Street?

The Sub Registrar Office that covers Pushpa 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 Pallikaranai

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the government’s assessment of the property’s worth. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Pushpa Street?

The current guideline value for Pushpa Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Pushpa Street?

Pushpa Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Pushpa Street?

The Sub Registrar Office for Pushpa Street is 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 property in Pushpa Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.