Guideline Value for Pudhu Nagar 5th Street

Pudhu Nagar 5th Street guideline value

The current guideline value of Pudhu Nagar 5th 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 5th Street has changed

The guideline value for Pudhu Nagar 5th Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 469 per sq.ft. The 2023 revision brought a significant rise to Rs 700 per sq.ft, and the latest 2024 revision further increased it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 93%. Notably, there are no figures recorded 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. The median guideline value for these streets is Rs 700 per sq.ft, placing Pudhu Nagar 5th Street's 2024 figure above this median.

• Pudhu Nagar 4th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 6th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 7th Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 2nd Street: Rs 770 per sq.ft (2024)
• Pudhu Nagar 8th Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhu Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudhu Nagar 5th Street?

The Sub Registrar Office that covers Pudhu Nagar 5th 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 crucial during property transactions as it determines the base value for calculating stamp duty and registration fees. When buying or selling property in Pullilyon, the guideline value ensures that the transaction is recorded at a fair value as per the government standards.

It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during registration. This value plays a significant role in the overall process of property transfer and taxation.

Frequently asked questions

What is the current guideline value of Pudhu Nagar 5th Street?

The current guideline value of Pudhu Nagar 5th 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 a total increase of 93% over the years.

What is the land classification of Pudhu Nagar 5th Street?

Pudhu Nagar 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Pudhu Nagar 5th Street?

The Sub Registrar Office for Pudhu Nagar 5th Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Pudhu Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.