Guideline Value for Pukraj Nagar 1st Cross Street (Ward-14)

Pukraj Nagar 1st Cross Street (Ward-14) guideline value

The current guideline value of Pukraj Nagar 1st Cross Street (Ward-14) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pukraj Nagar 1st Cross Street (Ward-14) has changed

The guideline value for Pukraj Nagar 1st Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which saw a decline to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Pukraj Nagar 1st Cross Street above this median.

• Pukraj Nagar 1, 2 & 3 Connecting Road (Ward No.14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 1st St (Ward-14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 1st st (Ward No.14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 2nd St (Ward-14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 2nd st (Ward No.14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pukraj Nagar 1st Cross Street (Ward-14)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pukraj Nagar 1st Cross Street (Ward-14)?

The Sub Registrar Office that covers Pukraj Nagar 1st Cross Street (Ward-14) 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 Madhavaram

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the value of the property and is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value ensures that the transaction reflects a fair valuation, helping to maintain transparency in property dealings. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the purchase or sale.

Frequently asked questions

What is the current guideline value of Pukraj Nagar 1st Cross Street?

The current guideline value of Pukraj Nagar 1st Cross Street (Ward-14) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Pukraj Nagar 1st Cross Street?

The land classification for Pukraj Nagar 1st Cross Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Pukraj Nagar 1st Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.