Guideline Value for Pudhu Nagar 1st Cross Street

Pudhu Nagar 1st Cross Street guideline value

The current guideline value of Pudhu Nagar 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Pudhu Nagar 1st Cross Street has changed

The guideline value for Pudhu Nagar 1st Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This figure remained the same in the subsequent revision in 2017, where it was adjusted to Rs 2,345 per sq.ft, reflecting a decrease of 33%. However, the value increased significantly in the following revisions, reaching Rs 3,500 per sq.ft in 2023, and then rising to Rs 3,800 per sq.ft in 2024, marking a 9% increase.

From 2017 to 2023, the value increased by 49%, bringing it back to a higher figure than in 2012. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Pudhu Nagar 1st Cross Street above this median.

• Pudhu Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Pudhu Nagar 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Pudhu Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi 1st Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi 2nd Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhu Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pudhu Nagar 1st Cross Street?

The Sub Registrar Office that covers Pudhu Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical figure used during property registration in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must consider this value to ensure compliance with local regulations.

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 appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Pudhu Nagar 1st Cross Street?

The current guideline value of Pudhu Nagar 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024.

What is the land classification for Pudhu Nagar 1st Cross Street?

Pudhu Nagar 1st Cross Street is classified under Commercial Class I Type - I land classification.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Pudhu Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.