Guideline Value for Puzhuthivakkam Main Road

Puzhuthivakkam Main Road guideline value

The current guideline value of Puzhuthivakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Puzhuthivakkam Main Road has changed

The guideline value for Puzhuthivakkam Main Road has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft. The latest revision in 2024 raised this figure to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

As of the 2024 revision, the guideline value for Puzhuthivakkam Main Road aligns with the median value for the 1823 streets in Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft. The median value is also Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values vary significantly across different streets. The current guideline value for Puzhuthivakkam Main Road is equal to the median value of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

• Puzhuthivakkam Village Road: Rs 2,750 per sq.ft (2024)
• Radha Nagar: Rs 1,650 per sq.ft (2024)
• Radha Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Raghavendra Cross Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street/Balaiya Garden: Rs 3,850 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 guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puzhuthivakkam Main Road?

The Puzhuthivakkam Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value is used to determine the official value of the property for registration purposes. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Puzhuthivakkam Main Road?

The current guideline value of Puzhuthivakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Puzhuthivakkam Main Road?

Puzhuthivakkam Main Road is classified as Residential Class I Type - III. This classification is important for determining the guideline value and other regulatory aspects.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,47,500 in fees based on the current guideline value.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles property registrations for the area, including Puzhuthivakkam Main Road.