Guideline Value for Pudupet Garden 3rd Lane

Pudupet Garden 3rd Lane guideline value

The current guideline value of Pudupet Garden 3rd 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, classified as Residential Class II Type - I.

How the guideline value of Pudupet Garden 3rd Lane has changed

The guideline value for Pudupet Garden 3rd Lane has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no recorded figures for this street in the register. The current figure of Rs 7,700 per sq.ft reflects the latest valuation as of July 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value range 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 3rd Lane's 2024 figure below the median.

• Pudupet Garden 2nd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden Street: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 1st Lane: 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 3rd 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, making the total cost for these fees Rs 6,93,000. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pudupet Garden 3rd Lane?

The Sub Registrar Office that covers Pudupet Garden 3rd 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 1

The guideline value is a crucial factor in the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pudupet Garden 3rd Lane?

The current guideline value of Pudupet Garden 3rd 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, marking a 10% increase.

What is the land classification for Pudupet Garden 3rd Lane?

Pudupet Garden 3rd Lane is classified as Residential Class II Type - I under the Chennai Central Joint I SRO.

What are the registration fees based on the guideline value?

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.

Where is the Sub Registrar Office for Pudupet Garden 3rd Lane located?

The Sub Registrar Office for Pudupet Garden 3rd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.