Guideline Value for Pudhupettai Street

Pudhupettai Street guideline value

The current guideline value of Pudhupettai Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village under the Alandur Sub Registrar Office (SRO) jurisdiction, classified as Commercial Class I Type - II.

How the guideline value of Pudhupettai Street has changed

The guideline value for Pudhupettai Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 350% rise. However, this value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent revision in 2024 increased it to Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Paruthivakkam

In Paruthivakkam village, there are 14 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Pudhupettai Street's 2024 figure above this median.

• Paruthivakkam Street: Rs 5,500 per sq.ft (2024)
• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Mettu Street/Paris Apts.,: Rs 3,900 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pudhupettai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that the 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 Pudhupettai Street?

The Sub Registrar Office that covers Pudhupettai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Paruthivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to calculate applicable duties, ensuring that the transaction is in line with the current market standards. This value helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Pudhupettai Street?

The current guideline value of Pudhupettai Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, showing a significant increase over the years with various revisions in between.

What is the registration office for Pudhupettai Street?

The registration office for Pudhupettai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Pudhupettai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at 7%.

What are the other streets in Paruthivakkam with guideline values?

Other streets in Paruthivakkam include Paruthivakkam Street, Pachaiyamman Koil Street, M.K.N. Road, Mettu Street/Paris Apts., Mettu Palayam (Eruppu Padhai), and Margo Street (Margoss Street), each with varying guideline values.