Guideline Value for Pudhu Street (Maduvangarai)

Pudhu Street (Maduvangarai) guideline value

The current guideline value of Pudhu Street (Maduvangarai) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Pudhu Street (Maduvangarai) has changed

The guideline value of Pudhu Street (Maduvangarai) has seen significant changes over the years. In the 2002 revision, the value was Rs 404 per sq.ft. This increased dramatically to Rs 4,000 per sq.ft in the 2012 revision, marking an increase of 890%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 shows the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Pudhu Street (Maduvangarai) for the years 2003 and 2007. Overall, from 2002 to 2024, the guideline value has increased by 989%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Pudhu Street (Maduvangarai).

• Prathap Chandran Street: Rs 5,500 per sq.ft (2024)
• Prasath Street in Dr. Seethapathy Layout: Rs 5,500 per sq.ft (2024)
• Prasath Street: Rs 5,500 per sq.ft (2024)
• Prasath Lane: Rs 4,400 per sq.ft (2024)
• Putheri Colony: Rs 3,850 per sq.ft (2024)
• Putherikarai Lane: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhu Street (Maduvangarai)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudhu Street (Maduvangarai)?

The Sub Registrar Office that covers Pudhu Street (Maduvangarai) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Pudhu Street (Maduvangarai)?

The current guideline value of Pudhu Street (Maduvangarai) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 404 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 989% over the years.

What is the registration office for Pudhu Street (Maduvangarai)?

The registration office for Pudhu Street (Maduvangarai) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Pudhu Street (Maduvangarai)?

Stamp duty for properties in Pudhu Street (Maduvangarai) is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 3,08,000.

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values. For example, Prathap Chandran Street, Prasath Street in Dr. Seethapathy Layout, and Prasath Street all have a guideline value of Rs 5,500 per sq.ft in 2024, while Prasath Lane matches the value of Pudhu Street at Rs 4,400 per sq.ft.