Guideline Value for West Pudhuvai Nagar 1st Street

West Pudhuvai Nagar 1st Street guideline value

The current guideline value of West Pudhuvai Nagar 1st Street is Rs 3,300 per sq.ft. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of West Pudhuvai Nagar 1st Street has changed

The guideline value for West Pudhuvai Nagar 1st Street has seen several revisions over the years. In 2003, the value was Rs 363 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, the value surged to Rs 3,000 per sq.ft in 2012, but then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft.

Between the revisions, the changes were significant. From 2003 to 2007, there was an increase of 65%. The value then jumped by 400% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of 33%. The value increased by 49% from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current figure for West Pudhuvai Nagar 1st Street.

• West Pudhuvai Nagar: Rs 3,300 per sq.ft (2024)
• West Pudhuvai Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Works Road: Rs 2,750 per sq.ft (2024)
• Yadaval Street: Rs 2,160 per sq.ft (2024)
• Yadhaval Street: Rs 2,160 per sq.ft (2024)
• V.O.C. Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in West Pudhuvai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Pudhuvai Nagar 1st Street?

The Sub Registrar Office that covers West Pudhuvai Nagar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of West Pudhuvai Nagar 1st Street?

The current guideline value of West Pudhuvai Nagar 1st Street is Rs 3,300 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 363 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between, including a peak of Rs 3,000 per sq.ft in 2012 and a drop to Rs 2,010 per sq.ft in 2017.

What is the land classification for West Pudhuvai Nagar 1st Street?

West Pudhuvai Nagar 1st Street is classified as Residential Class I Type - II, which is important for understanding its use and potential development.

Where can I find the registration office for West Pudhuvai Nagar 1st Street?

The registration office for West Pudhuvai Nagar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,97,000.