Guideline Value for Pudupet Garden 2nd Lane

Pudupet Garden 2nd Lane guideline value

The current guideline value for Pudupet Garden 2nd Lane is Rs 7,700 per sq.ft. 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 2nd Lane has changed

The guideline value for Pudupet Garden 2nd Lane has seen several revisions over the years. The register has no figure for this street 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 was an increase from the previous revisions. The latest revision in 2024 raised the guideline value to Rs 7,700 per sq.ft, reflecting a 10% increase from the 2023 figure.

Comparatively, the guideline values have progressed as follows: from no recorded figure to Rs 7,000 per sq.ft in 2023, and then to Rs 7,700 per sq.ft in 2024. This increase indicates a positive adjustment in the guideline value for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values 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 2nd Lane's 2024 figure below that median.

• Pudupet Garden 1st 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 2nd 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, resulting in a total of Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Pudupet Garden 2nd Lane?

The Sub Registrar Office that covers Pudupet Garden 2nd 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 details.

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

The guideline value is a crucial factor during the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that all transactions are recorded at fair values.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations, making it an essential aspect of property dealings.

Frequently asked questions

What is the current guideline value of Pudupet Garden 2nd Lane?

The current guideline value of Pudupet Garden 2nd 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 has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Pudupet Garden 2nd Lane's 2024 figure is below this median.

What are the stamp duty and registration fees for properties 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. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Pudupet Garden 2nd Lane?

The Sub Registrar Office for Pudupet Garden 2nd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details through the provided link.