Guideline Value for Puspagiri Street

Puspagiri Street guideline value

The current guideline value of Puspagiri Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Puspagiri Street has changed

The guideline value for Puspagiri Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 153 per sq.ft. This increased to Rs 173 per sq.ft in 2003, marking a 13% rise. The value then saw a further increase to Rs 260 per sq.ft in 2007, which was a 50% change from the previous revision. The next significant jump occurred in 2023, when the guideline value reached Rs 1,600 per sq.ft, reflecting a 515% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2012 and 2017 for Puspagiri Street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1,050%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values in 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Puspagiri Street's current value below this median.

• Radhakrishnan Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pulavar Jeganathan Street / Pasumpon nagar: Rs 1,980 per sq.ft (2024)
• Pugazenthi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Ragavan Street: Rs 1,980 per sq.ft (2024)
• Ragavan Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Puddor Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Puspagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Puspagiri Street?

The Sub Registrar Office covering Puspagiri Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a critical factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

At the time of registration, the guideline value is used to assess the applicable fees, which can significantly impact the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone involved in real estate transactions in Pammal.

Frequently asked questions

What is the current guideline value of Puspagiri Street?

The current guideline value of Puspagiri Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 153 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1,050% over this period.

What is the land classification of Puspagiri Street?

Puspagiri Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Puspagiri Street?

The Sub Registrar Office for Puspagiri Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property in Puspagiri Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.