Guideline Value for Pudupet Garden 3rd Lane

Pudupet Garden 3rd Lane guideline value

The current guideline value for Pudupet Garden 3rd 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. The land classification for this area is 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 most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which reflects an increase of 10% from the previous year's figure of Rs 7,000 per sq.ft established in 2023. Prior to these revisions, the register has no figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the changes from the 2023 to the 2024 revision indicate a notable increase, while the absence of figures for earlier years suggests that the guideline value was not recorded for Pudupet Garden 3rd Lane during those times. The consistent updates in recent years highlight the importance of monitoring these values for property transactions.

Guideline values in Mylapore Part 2

In Mylapore Part 2, the guideline values vary significantly across different streets. The 2024 figures for 332 streets in this village range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Pudupet Garden 3rd Lane is below this median, indicating a relatively lower valuation compared to some other streets in the area.

• 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 property measuring 1,000 sq.ft at the current guideline value of Rs 7,700 per sq.ft, the guideline value totals Rs 77,00,000. The stamp duty, calculated at 7%, amounts to Rs 5,39,000, while the registration fee at 2% is Rs 1,54,000. The total cost for these charges together is Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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. For assistance in finding your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in property transactions within Mylapore Part 2. It serves as a benchmark for determining the minimum value of a property, which is essential during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements when finalizing a sale.

When registering a property, the guideline value will influence the stamp duty and registration fees that are applicable. Therefore, understanding the current guideline value is vital for both buyers and sellers to accurately calculate their financial obligations during the transaction.

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 has the guideline value changed over the years?

The guideline value for Pudupet Garden 3rd Lane increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. There are no figures recorded for the years 2017, 2012, 2007, 2003, and 2002.

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

Pudupet Garden 3rd Lane is classified as Residential Class II Type - I. This classification indicates the intended use of the land within this area.

What are the stamp duty and registration fees for a property in Pudupet Garden 3rd Lane?

For a property measuring 1,000 sq.ft at the current guideline value, the stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Pudupet Garden 3rd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles all registration activities for the area.