Guideline Value for Pudu Nagar M.G.R. 2nd Street

Pudu Nagar M.G.R. 2nd Street guideline value

The current guideline value of Pudu Nagar M.G.R. 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Pudu Nagar M.G.R. 2nd Street has changed

The guideline value for Pudu Nagar M.G.R. 2nd Street has seen 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, marking a rise of 367%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,800 per sq.ft in 2024, reflecting a growth of 9% from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 407%. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which was a 49% increase from the previous revision in 2023. The consistent changes in the guideline value reflect the evolving real estate landscape in the area.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, positioning Pudu Nagar M.G.R. 2nd Street above this median.

• Pudu Nagar M.G.R. 1st Street: Rs 3,800 per sq.ft (2024)
• Pudu Nagar Main Road: 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. 2nd 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, while the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pudu Nagar M.G.R. 2nd Street?

The Sub Registrar Office that covers Pudu Nagar M.G.R. 2nd 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 factor in property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for accurate financial planning during the purchase or sale process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pudu Nagar M.G.R. 2nd Street?

The current guideline value of Pudu Nagar M.G.R. 2nd 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, marking an overall increase of 407% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Pudu Nagar M.G.R. 2nd Street's current value being above this median.

What are the stamp duty and registration fees for a property here?

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 Selaiyur Sub Registrar Office 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.