Guideline Value for Pycrofts Garden Road

Pycrofts Garden Road guideline value

The current guideline value of Pycrofts Garden Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Pycrofts Garden Road has changed

The guideline value for Pycrofts Garden Road has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 4,200 per sq.ft. This increased to Rs 12,000 per sq.ft in the 2012 revision, marking a substantial rise of 186%. However, in the 2017 revision, the value decreased to Rs 8,040 per sq.ft, a drop of 33%. The value then increased to Rs 12,000 per sq.ft in the 2023 revision, followed by the latest revision in 2024, which set the value at Rs 13,200 per sq.ft, representing a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Pycrofts Garden Road's 2024 figure above that median.

• Pushpa Nagar (Slum Area): Rs 6,600 per sq.ft (2024)
• Pushpa Nagar Main Road: Rs 7,700 per sq.ft (2024)
• Pushpa Nagar Lane: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 3rd Street: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Pushpa Nagar 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pycrofts Garden Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pycrofts Garden Road?

The Sub Registrar Office that covers Pycrofts Garden Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved in property transactions.

When a property is registered, the guideline value is used to ascertain the applicable stamp duty and registration fees. This value is compared to the sale price, and the higher amount is used for calculating the duties, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pycrofts Garden Road?

The current guideline value of Pycrofts Garden Road is Rs 13,200 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 4,200 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 214%.

What are the stamp duty and registration fees for properties on Pycrofts Garden Road?

For a 1,000 sq.ft property, the total guideline value would be Rs 1,32,00,000, with a stamp duty of Rs 9,24,000 and a registration fee of Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office handles registrations for Pycrofts Garden Road?

The Chennai Central Joint II Sub Registrar Office handles registrations for Pycrofts Garden Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Pycrofts Garden Road?

The land classification for Pycrofts Garden Road is Commercial Special Type - III, indicating its use for commercial purposes.