Guideline Value for Pushpavalli Street

Pushpavalli Street guideline value

The current guideline value of Pushpavalli Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Pushpavalli Street has changed

Over the years, the guideline value of Pushpavalli Street has seen significant changes. The earliest recorded figure is from 2002, which was Rs 253 per sq.ft. This increased to Rs 289 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 211%. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a notable increase of 289% from the previous revision. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The value increased to Rs 3,500 per sq.ft in 2023, and then rose again to Rs 3,900 per sq.ft in 2024, which is an 11% increase.

From 2002 to 2024, the overall increase in the guideline value is 1,442%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Pushpavalli Street.

• Pudhupettai Street: Rs 5,000 per sq.ft (2024)
• Raghava Avenue: Rs 3,900 per sq.ft (2024)
• Railway Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Railway Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Railway Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Railway colony 4th layout: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pushpavalli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pushpavalli Street?

The Sub Registrar Office that covers Pushpavalli Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold or bought, the guideline value is used to calculate the taxes owed, ensuring that the transaction is recorded accurately in the government registry. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pushpavalli Street?

The current guideline value of Pushpavalli Street is Rs 3,900 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 253 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,442% over this period.

What are the stamp duty and registration fees for property in Pushpavalli Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost would be Rs 3,51,000.

Which Sub Registrar Office covers Pushpavalli Street?

Pushpavalli Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Pushpavalli Street?

Pushpavalli Street is classified as Residential Class I Type - III according to the guidelines set by the Alandur SRO.