Guideline Value for Pudupet Garden Street

Pudupet Garden Street guideline value

The current guideline value of Pudupet Garden Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 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 Street has changed

The guideline value for Pudupet Garden Street has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was 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 recorded figures for the specified years. The 2024 figure of Rs 7,700 per sq.ft is below the median guideline value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft for the 2024 revision. The median value is Rs 8,800 per sq.ft, and Pudupet Garden Street's 2024 figure is below this median. Here are some other streets in Mylapore Part 2:

• Pudupet Garden 3rd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 2nd Lane: 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 Street

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. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pudupet Garden Street?

The Sub Registrar Office that covers Pudupet Garden Street 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. When buying or selling property in Mylapore Part 2, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pudupet Garden Street?

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

How much did the guideline value increase from 2023 to 2024?

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

What are the land classification details for Pudupet Garden Street?

Pudupet Garden Street falls under the Residential Class II Type - I land classification.

How does the guideline value compare to other streets in Mylapore Part 2?

The guideline value of Rs 7,700 per sq.ft for Pudupet Garden Street is below the median guideline value of Rs 8,800 per sq.ft for other streets in Mylapore Part 2.

Where can I find the Sub Registrar Office for Pudupet Garden Street?

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