Guideline Value for Pudhupettai street

Pudhupettai street guideline value

The current guideline value of Pudhupettai street in Chinnapanicheri village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential 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 guideline value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023 and is now set at Rs 550 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the increase is 175%. The fluctuations in these values reflect the changes in the real estate landscape over the years.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. Pudhupettai street's 2024 figure is below this median.

• Panchatcharam Nagar Annexe: Rs 800 per sq.ft (2024)
• Panchatcharam Nagar: Rs 800 per sq.ft (2024)
• Nova Nagar: Rs 550 per sq.ft (2024)
• Santha Nagar: Rs 550 per sq.ft (2024)
• Muthu Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Shanthi Nagar: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudhupettai street?

The Sub Registrar Office that covers Pudhupettai street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chinnapanicheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the legal value of the property. This value is used by the registration department to assess the applicable fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pudhupettai street?

The current guideline value of Pudhupettai street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the other streets in Chinnapanicheri with guideline values?

Other streets in Chinnapanicheri include Panchatcharam Nagar Annexe and Panchatcharam Nagar at Rs 800 per sq.ft, along with Nova Nagar, Santha Nagar, Muthu Mari Amman Koil Street, and Shanthi Nagar at Rs 550 per sq.ft.

What is the stamp duty rate for properties in Pudhupettai street?

The stamp duty rate for properties in Pudhupettai street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pudhupettai street?

The Sub Registrar Office for Pudhupettai street is located at No.59, Road Street, Kundrathur, Chennai -600 069.