Guideline Value for Pushpa Nagar 3rd Street

Pushpa Nagar 3rd Street guideline value

The current guideline value of Pushpa Nagar 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street 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 3rd Street has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024. The changes between the 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 figures 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, with guideline values for 2024 ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Pushpa Nagar 3rd Street's current value below this median.

• Pushpa Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pushpa Nagar 3rd Street?

The Sub Registrar Office that covers Pushpa Nagar 3rd 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Buyers and sellers should ensure that the property is registered at the correct guideline value to avoid any legal issues in the future.

Frequently asked questions

What is the current guideline value of Pushpa Nagar 3rd Street?

The current guideline value of Pushpa Nagar 3rd 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, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Pushpa Nagar 3rd 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.

Which office handles the registration for Pushpa Nagar 3rd Street?

The registration for Pushpa Nagar 3rd Street is handled by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Pushpa Nagar 3rd Street?

The land classification for Pushpa Nagar 3rd Street is Residential Class III Type - I.