Guideline Value for Puzhal Road

Puzhal Road guideline value

The current guideline value of Puzhal Road in Elanthancherry village, under the Redhills SRO, is Rs 1,004 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Type - I.

How the guideline value of Puzhal Road has changed

The guideline value for Puzhal Road has experienced significant changes over the years. The earliest recorded value was Rs 23 per sq.ft in 2003. This figure rose dramatically to Rs 200 per sq.ft in 2007, marking an increase of 770%. Following this, the value surged to Rs 800 per sq.ft in 2012, reflecting a 300% increase. However, it then decreased to Rs 536 per sq.ft in 2017, which was a decline of 33%. The value saw a notable rise to Rs 800 per sq.ft in 2023, before reaching the current figure of Rs 1,004 per sq.ft in 2024, representing a 26% increase.

Overall, from 2003 to 2024, the guideline value has increased by 4265%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Elanthancherry

In Elanthancherry, there are four streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,004 per sq.ft. The median guideline value for these streets is Rs 1,002 per sq.ft, placing Puzhal Road's 2024 figure above the median.

• Ponneri High Road: Rs 1,004 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Myalamman Koil Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Puzhal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the total guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, leading to a total of Rs 90,360. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puzhal Road?

The Sub Registrar Office that covers Puzhal Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Elanthancherry. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for calculating the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Puzhal Road?

The current guideline value of Puzhal Road is Rs 1,004 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 23 per sq.ft in 2003 to Rs 1,004 per sq.ft in 2024, reflecting an overall increase of 4265% over the years.

What are the other streets in Elanthancherry and their guideline values?

Other streets in Elanthancherry include Ponneri High Road at Rs 1,004 per sq.ft, Perumal Koil Street at Rs 1,000 per sq.ft, and Myalamman Koil Street at Rs 1,000 per sq.ft for 2024.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Puzhal Road?

The Sub Registrar Office for Puzhal Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.