Guideline Value for Pushpambal st ( Ward No.1 )

Pushpambal st ( Ward No.1 ) guideline value

The current guideline value of Pushpambal st ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Pushpambal st ( Ward No.1 ) has changed

Over the years, the guideline value for Pushpambal st has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, marking a significant increase of 62% from the 2017 figure.

When comparing the 2012 and 2017 revisions, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not have figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Pushpambal st's 2024 figure below that median.

• Punniyam Nagar: Rs 1,300 per sq.ft (2024)
• Punniakotti St ( Ward No.22 ): Rs 1,600 per sq.ft (2024)
• P.V.N. Nagar: Rs 1,600 per sq.ft (2024)
• Pukraj Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Pukraj Nagar Connecting Road ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 7th St (Ward-14): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpambal st ( Ward No.1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pushpambal st ( Ward No.1 )?

The Sub Registrar Office that covers Pushpambal st ( Ward No.1 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Pushpambal st ( Ward No.1 )?

The current guideline value of Pushpambal st ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,200 per sq.ft in 2012, Rs 804 per sq.ft in 2017, and it has increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Pushpambal st ( Ward No.1 )?

Pushpambal st ( Ward No.1 ) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Pushpambal st ( Ward No.1 )?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000.