Guideline Value for Pudhu Nagar M.G.R.Street

Pudhu Nagar M.G.R.Street guideline value

The current guideline value of Pudhu Nagar M.G.R.Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Pudhu Nagar M.G.R.Street has changed

The guideline value for Pudhu Nagar M.G.R.Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%. The most recent change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry 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. Pudhu Nagar M.G.R.Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Pudhu Nagar Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Nethaji Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Indira Gandhi 1st to 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Erikarai Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Apposthalar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhu Nagar M.G.R.Street

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

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pudhu Nagar M.G.R.Street?

The Sub Registrar Office that covers Pudhu Nagar M.G.R.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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the registration process requires the payment of stamp duty and registration fees 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 of Pudhu Nagar M.G.R.Street?

The current guideline value of Pudhu Nagar M.G.R.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. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What are the registration fees for property in Pudhu Nagar M.G.R.Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Pudhu Nagar M.G.R.Street?

The Selaiyur Sub Registrar Office handles registrations for Pudhu Nagar M.G.R.Street. It is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value determined in Perumbakkam?

The guideline value in Perumbakkam is determined by the Registration Department's guideline value register. It reflects the minimum value for property registration and is updated periodically based on various factors.