Guideline Value for Pudu Nagar M.G.R. 1st Street

Pudu Nagar M.G.R. 1st Street guideline value

The current guideline value of Pudu Nagar M.G.R. 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Pudu Nagar M.G.R. 1st Street has changed

The guideline value for Pudu Nagar M.G.R. 1st Street has undergone several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it saw a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 407%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Pudu Nagar M.G.R. 1st Street's 2024 figure above that median.

• Pudu Nagar Main Road: Rs 3,800 per sq.ft (2024)
• Pudu Nagar M.G.R. 2nd Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi Nagar: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi 2nd Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Kalaingar Karunanidhi 1st Street: Rs 3,800 per sq.ft (2024)
• Pugazhandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pudu Nagar M.G.R. 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pudu Nagar M.G.R. 1st Street?

The Sub Registrar Office that covers Pudu Nagar M.G.R. 1st 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 Chembakkam

The guideline value is a crucial figure used during the registration of property transactions in Chembakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it's essential to be aware of the current guideline value, as it reflects the official valuation set by the Registration Department. This value can influence the overall cost of the transaction, including additional fees that may arise during the registration process.

Frequently asked questions

What is the current guideline value of Pudu Nagar M.G.R. 1st Street?

The current guideline value of Pudu Nagar M.G.R. 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 407% over the years.

What is the median guideline value for streets in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft. Pudu Nagar M.G.R. 1st Street's 2024 value is above this median.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Pudu Nagar M.G.R. 1st Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.