Guideline Value for PUSPHA NAGAR IST STREET

Puspha Nagar Ist Street guideline value

The current guideline value of Puspha Nagar Ist 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 Ist Street has changed

The guideline value for Puspha Nagar Ist Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 300 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a drop of 33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register does not have 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 with 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 Ist Street's 2024 figure below that median.

• Puspha Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Puspha Nagar 2nd 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 Ist 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 to Rs 1,48,500. It is important to note that stamp 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 precise calculations.

Which Sub Registrar Office covers Puspha Nagar Ist Street?

Puspha Nagar Ist Street is covered 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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the sale price must be at least equal to the guideline value to ensure compliance with local regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

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

The current guideline value of Puspha Nagar Ist Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much 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 median guideline value for streets in Iyyappanthangal?

The median guideline value for the 134 streets in Iyyappanthangal is Rs 2,200 per sq.ft, which is above the current value of Puspha Nagar Ist Street.

What are the stamp duty and registration fees for Puspha Nagar Ist Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Puspha Nagar Ist Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Puspha Nagar Ist Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.