Guideline Value for Pudu Street

Pudu Street guideline value

The current guideline value of Pudu Street in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Pudu Street has changed

The guideline value for Pudu Street has experienced several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure saw a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a drop of 33%. However, the subsequent revisions saw a significant increase, with the value rising to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Pudu Street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Pudu Street is below this median.

• Pudhupettai Street: Rs 3,300 per sq.ft (2024)
• Poonthottam Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 4th Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 3nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 1st street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pudu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Street?

Pudu Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all parties involved in the transaction are aware of the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Pudu Street?

The current guideline value of Pudu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, before rising again to Rs 3,000 per sq.ft in 2023.

What is the land classification of Pudu Street?

Pudu Street is classified as Residential Class II Type - II, indicating its designation for residential purposes within the area.

What are the stamp duty rates for properties on Pudu Street?

The stamp duty for properties on Pudu Street is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Which office handles registrations for Pudu Street?

The registrations for Pudu Street are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.