Guideline Value for Puzhuthivakkam Main Road

Puzhuthivakkam Main Road guideline value

The current guideline value of Puzhuthivakkam Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Ullagaram village, under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Puzhuthivakkam Main Road has changed

The guideline value for Puzhuthivakkam Main Road has seen significant changes over the years. In 2002, the value was Rs 298 per sq.ft, which increased to Rs 334 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,209%. The register has no figures for the years not mentioned above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median of Rs 2,800 per sq.ft. The guideline value for Puzhuthivakkam Main Road is above this median.

• Radha Nagar - All streets: Rs 2,800 per sq.ft (2024)
• Rajagopalan Cross Street: Rs 2,800 per sq.ft (2024)
• Rajagopal Street: Rs 2,800 per sq.ft (2024)
• Rajaji Street: Rs 2,200 per sq.ft (2024)
• Porcheliyan Street: Rs 2,800 per sq.ft (2024)
• Rajamani First Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Puzhuthivakkam Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puzhuthivakkam Main Road?

The Sub Registrar Office that covers Puzhuthivakkam Main Road 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 Ullagaram

The guideline value is an essential factor when registering property transactions in Ullagaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is crucial to be aware of the guideline value to avoid any discrepancies during the registration process. Buyers should ensure that the sale price meets or exceeds the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Puzhuthivakkam Main Road?

The current guideline value of Puzhuthivakkam Main Road 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, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. Overall, it has risen from Rs 298 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024.

What are the guideline values for other streets in Ullagaram?

Other streets in Ullagaram have guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, while Puzhuthivakkam Main Road's value is above this median.

How is stamp duty calculated for properties in Puzhuthivakkam Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 3,51,000.

Where can I find the Sub Registrar Office for Puzhuthivakkam Main Road?

The Sub Registrar Office for Puzhuthivakkam Main Road is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find more information online.