Guideline Value for Pushpa Colony

Pushpa Colony guideline value

The current guideline value of Pushpa Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Pushpa Colony has changed

The guideline value for Pushpa Colony has undergone several revisions over the years. Starting with the 2002 revision, the value was set at Rs 859 per sq.ft. This increased to Rs 938 per sq.ft in 2003, marking a 9% rise. The next significant jump occurred in 2007 when the value rose to Rs 1,100 per sq.ft, reflecting a 17% increase. In 2012, the value reached Rs 4,000 per sq.ft, which was a substantial 264% increase from the previous revision. However, this value dropped by 33% to Rs 2,680 per sq.ft in 2017.

From 2017 to 2023, the guideline value saw a significant increase of 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 412%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which matches the guideline value of Pushpa Colony.

• Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)
• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Prem Nagar (Bharathi Street.): Rs 3,300 per sq.ft (2024)
• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pushpa Colony?

The Sub Registrar Office that covers Pushpa Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Pushpa Colony?

The current guideline value of Pushpa Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 859 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 412% over this period.

What are the stamp duty and registration fees for property in Pushpa Colony?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Pushpa Colony?

The Virugambakkam Sub Registrar Office covers Pushpa Colony, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Pushpa Colony?

Pushpa Colony is classified as Residential Class II Type - I, indicating its suitability for residential development.