Guideline Value for Pugalendi Street

Pugalendi Street guideline value

The current guideline value of Pugalendi Street in Erukancherry village is Rs 2,500 per sq.ft, effective from the 2024 revision. This street falls under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Pugalendi Street has changed

The guideline value for Pugalendi Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,300 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for Pugalendi Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Pugalendi Street.

• Pugalendhi Street (Vivekananda Nagar): Rs 2,500 per sq.ft (2024)
• Pugalendhi Street (Krishnamoorthy Nagar): Rs 2,500 per sq.ft (2024)
• Punitha Androse Street: Rs 2,500 per sq.ft (2024)
• Poondi Madha Street: Rs 2,500 per sq.ft (2024)
• P. Jeevanandam Street: Rs 2,500 per sq.ft (2024)
• Rajavelu Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pugalendi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, together totaling Rs 2,25,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Pugalendi Street?

The Sub Registrar Office that covers Pugalendi Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Erukancherry

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Pugalendi Street?

The current guideline value of Pugalendi Street is Rs 2,500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then rose to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Pugalendi Street?

Pugalendi Street is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Pugalendi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,00,000, the stamp duty at 7% would be Rs 1,75,000.