Guideline Value for Pushpa Nagar (Slum Area)

Pushpa Nagar (Slum Area) guideline value

The current guideline value of Pushpa Nagar (Slum Area) is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pushpa Nagar (Slum Area) has changed

Since the 2007 revision, the guideline value for Pushpa Nagar has seen significant changes. In 2007, the value was Rs 1,500 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. The guideline value rose again to Rs 6,000 per sq.ft in 2023, and as of the 2024 revision, it is now Rs 6,600 per sq.ft. The changes between these revisions include a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, making Pushpa Nagar's 2024 figure below this median.

• Pushpa Nagar Main Road: Rs 7,700 per sq.ft (2024)
• Pushpa Nagar Lane: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 3rd Street: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 1st Street: Rs 6,600 per sq.ft (2024)
• Pycrofts Garden Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Nagar (Slum Area)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, charged at 7%, would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pushpa Nagar (Slum Area)?

The Sub Registrar Office that covers Pushpa Nagar is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded correctly and that the appropriate taxes are collected by the government. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pushpa Nagar?

The current guideline value of Pushpa Nagar (Slum Area) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting a 340% increase overall.

What is the registration fee for property in Pushpa Nagar?

The registration fee is calculated based on the guideline value. For a property valued at Rs 66,00,000, the registration fee would be Rs 1,32,000 at a rate of 2%.

Which Sub Registrar Office should I visit for transactions in Pushpa Nagar?

The Chennai Central Joint II Sub Registrar Office covers Pushpa Nagar, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Pushpa Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.