Guideline Value for Pudhu Nagar 1st Street

Pudhu Nagar 1st Street guideline value

The current guideline value of Pudhu Nagar 1st Street in Pullilyon village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class I Type - I.

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

Over the years, the guideline value of Pudhu Nagar 1st Street has seen several revisions. The earliest available figure is from 2007, which was Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, marking a 75% rise. However, from 2012 to 2017, the value dropped by 33% to Rs 469 per sq.ft. The next revision in 2023 saw a significant increase of 49%, bringing the value to Rs 700 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 770 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 93%.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, and Pudhu Nagar 1st Street's 2024 figure of Rs 770 per sq.ft is above this median.

• Pudhu Nagar 2nd Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 4th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 5th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 6th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 7th Street: Rs 770 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudhu Nagar 1st Street?

The Sub Registrar Office that covers Pudhu Nagar 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Pullilyon. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

In essence, the guideline value helps ensure that properties are not undervalued during transactions, thereby facilitating a fair process for both buyers and sellers. It is advisable for potential buyers and sellers to be aware of the current guideline values to make informed decisions.

Frequently asked questions

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

The current guideline value of Pudhu Nagar 1st Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

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

Pudhu Nagar 1st Street is classified as Residential Class I Type - I.

What are the registration fees for a property in Pudhu Nagar 1st Street?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for Pudhu Nagar 1st Street?

The Redhills Sub Registrar Office handles registrations for Pudhu Nagar 1st Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.