Guideline Value for Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street

Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street guideline value

The current guideline value of Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO, and it is classified as Residential Special Type - II.

How the guideline value of Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street has changed

The guideline value for Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a rise of 49%. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value of Rs 3,300 per sq.ft for Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street is above this median.

• Pudhu Nagar Erikarai Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar M.G.R.Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Apposthalar Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Nethaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street?

The Sub Registrar Office that covers Pudhu Nagar Indira Gandhi 1st to 3rd 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street?

The current guideline value for Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Which office handles property registrations in this area?

The Selaiyur Sub Registrar Office is responsible for property registrations in Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street, located at No.36, Bharathmatha Salai, Chennai.

What is the land classification for this street?

Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street is classified as Residential Special Type - II.