Guideline Value for Pushpa Nagar

Pushpa Nagar guideline value

The current guideline value of Pushpa Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Pushpa Nagar has changed

The guideline value for Pushpa Nagar has experienced several revisions over the years. Starting from Rs 81 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

Between the revisions, several notable changes occurred. From 2002 to 2003, the guideline value increased by 23%. The period from 2003 to 2007 saw a remarkable rise of 300%. However, from 2012 to 2017, there was a decrease of 33%. The value increased by 49% from 2017 to 2023, followed by a 7% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1875%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Pushpa Nagar is below this median.

• Pushpa Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Puthur highways: Rs 2,200 per sq.ft (2024)
• Radha krishnan Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Pudhu Street: Rs 1,900 per sq.ft (2024)
• Ragavendra Street: Rs 2,400 per sq.ft (2024)
• Ragul Street (Imanuel Nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pushpa Nagar?

The Sub Registrar Office that covers Pushpa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Oragadam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pushpa Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 81 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, with several revisions occurring in between.

What is the land classification for Pushpa Nagar?

Pushpa Nagar falls under the Residential Class II Type - I land classification.

Where can I find the registration office for Pushpa Nagar?

The registration office for Pushpa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Pushpa Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.