Guideline Value for Pudupet Garden 1st Lane

Pudupet Garden 1st Lane guideline value

The current guideline value for Pudupet Garden 1st Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Pudupet Garden 1st Lane has changed

The guideline value for Pudupet Garden 1st Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 7,000 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline values have changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This reflects a notable increase, but the historical data for earlier years is not available for this specific street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Pudupet Garden 1st Lane's 2024 figure below that median.

• Pudupet Garden 2nd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 3rd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden Street: Rs 7,700 per sq.ft (2024)
• Pudu Street: Rs 10,900 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 8,700 per sq.ft (2024)
• Prasanna Vinayagar Koil 3rd Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pudupet Garden 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudupet Garden 1st Lane?

The Pudupet Garden 1st Lane falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during property registration in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that both parties in the transaction are aware of the financial implications based on the established guideline value.

Frequently asked questions

What is the current guideline value for Pudupet Garden 1st Lane?

The current guideline value for Pudupet Garden 1st Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is above the current value for Pudupet Garden 1st Lane.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Pudupet Garden 1st Lane?

The Chennai Central Joint I Sub Registrar Office handles registrations for Pudupet Garden 1st Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.