Guideline Value for PUSPHA NAGAR CROSS STREET

Puspha Nagar Cross Street guideline value

The current guideline value of Puspha Nagar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Puspha Nagar Cross Street has changed

The guideline value for Puspha Nagar Cross Street has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, it then saw a decrease to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 1,500 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the initial figure in 2007 to the current guideline value in 2024, there has been a substantial increase of 450%. The register has no figures for the years 2002 and 2003 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, with a median value of Rs 2,200 per sq.ft. Puspha Nagar Cross Street's current value is below this median.

• Puspha Nagar 2nd 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 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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puspha Nagar Cross Street?

Puspha Nagar Cross 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 in the registration process of property transactions in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared with 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 in the area.

Frequently asked questions

What is the current guideline value of Puspha Nagar Cross Street?

The current guideline value of Puspha Nagar 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 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification of Puspha Nagar Cross Street?

Puspha Nagar Cross Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Puspha Nagar Cross Street?

The Sub Registrar Office for Puspha Nagar Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.