Guideline Value for Pudhu Nagar 3rd Street

Pudhu Nagar 3rd Street guideline value

The current guideline value of Pudhu Nagar 3rd Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Pullilyon village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pudhu Nagar 3rd Street has changed

In the 2007 revision, the guideline value was Rs 400 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2012 revision, marking a 75% rise. However, in the 2017 revision, the value dropped to Rs 469 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a significant increase to Rs 700 per sq.ft, followed by a further rise to Rs 770 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 93%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. Pudhu Nagar 3rd Street's 2024 guideline value is above this median.

• Pudhu Nagar 1st Street: Rs 770 per sq.ft (2024)
• 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the 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, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pudhu Nagar 3rd Street?

The Sub Registrar Office that covers Pudhu Nagar 3rd 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 information.

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

The guideline value is a crucial factor when registering property transactions in Pullilyon. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which can influence negotiations between buyers and sellers. It is essential for both parties to be aware of the guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Pudhu Nagar 3rd Street?

The current guideline value of Pudhu Nagar 3rd 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 this period.

What are the stamp duty and registration fees for properties in Pudhu Nagar 3rd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total fees would be Rs 69,300.

Which Sub Registrar Office covers Pudhu Nagar 3rd Street?

The Redhills Sub Registrar Office covers Pudhu Nagar 3rd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees payable during a transaction. It ensures that the government receives the appropriate revenue from property transactions.