Guideline Value for Pushpa Nagar 2nd Street

Pushpa Nagar 2nd Street guideline value

The current guideline value of Pushpa Nagar 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, 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 2nd Street has changed

Over the years, the guideline value for Pushpa Nagar 2nd Street has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, representing a 300% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, marking a decline of 33%. Following this, the guideline value surged to Rs 6,000 per sq.ft in 2023, and further increased to the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% rise from the previous year.

The revisions for the years 2002 and 2003 have no figures recorded for this street. From 2017 to 2023, the guideline value increased by 49%, and from 2007 to 2024, there has been an overall increase of 340%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Pushpa Nagar 2nd Street's 2024 figure below that median.

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

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 at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pushpa Nagar 2nd Street?

The Sub Registrar Office that covers Pushpa Nagar 2nd Street 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a buyer or seller engages in a transaction, the guideline value is assessed to ensure that the appropriate taxes are levied. This ensures transparency and compliance with local regulations, making it an essential aspect of property transactions in the area.

Frequently asked questions

What is the current guideline value of Pushpa Nagar 2nd Street?

The current guideline value of Pushpa Nagar 2nd Street 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 an overall increase of 340%.

What is the median guideline value for streets in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which means Pushpa Nagar 2nd Street's value is below this median.

What are the stamp duty and registration fees for property in Pushpa Nagar 2nd Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Pushpa Nagar 2nd Street located?

The Sub Registrar Office for Pushpa Nagar 2nd Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.