Guideline Value for PUSPHA NAGAR 2ND STREET

Puspha Nagar 2nd Street guideline value

The current guideline value of Puspha Nagar 2nd 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 Puspha Nagar 2nd Street has changed

Over the years, the guideline value of Puspha Nagar 2nd Street has seen significant changes. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft in the 2024 revision. The changes between these revisions include a +400% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +10% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value 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 Puspha Nagar 2nd Street's value below that median. Here are some other streets in Iyyappanthangal:

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value is 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. Therefore, the total cost for these fees would amount to 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puspha Nagar 2nd Street?

The Puspha Nagar 2nd Street falls under 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

The guideline value is a crucial factor when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as set by the local authorities.

Frequently asked questions

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

The current guideline value of Puspha Nagar 2nd 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 significantly from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various increments and decrements across the years.

What is the land classification for Puspha Nagar 2nd Street?

The land classification for Puspha Nagar 2nd Street is Residential Class IV Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.

Which office handles the registration for Puspha Nagar 2nd Street?

The registration for Puspha Nagar 2nd Street is handled by 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.