Guideline Value for Pudupet Garden 1st Lane

Pudupet Garden 1st Lane guideline value

The current guideline value of Pudupet Garden 1st Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO, with a land classification of Residential Class II Type - I.

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 register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no available figures for the aforementioned years. The most recent value reflects a significant adjustment in the guideline value for this street, aligning it with the updated market conditions.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median 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 amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pudupet Garden 1st Lane?

The Sub Registrar Office that covers Pudupet Garden 1st Lane is 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs involved in the transfer of property ownership.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for Pudupet Garden 1st Lane has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Mylapore Part 2 with similar guideline values?

Other streets in Mylapore Part 2 with a guideline value of Rs 7,700 per sq.ft in 2024 include Pudupet Garden 2nd Lane, Pudupet Garden 3rd Lane, and Pudupet Garden Street.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.

Where can I find the Sub Registrar Office for Pudupet Garden 1st Lane?

The Sub Registrar Office for Pudupet Garden 1st Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.