Guideline Value for P.C.M. Colony

P.C.M. Colony guideline value

The current guideline value of P.C.M. Colony, located in Parangimalai village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of P.C.M. Colony has changed

The guideline value for P.C.M. Colony has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 502 per sq.ft. This figure increased to Rs 771 per sq.ft in 2003, marking a change of +54%. The value then rose to Rs 1,100 per sq.ft in 2007, a significant increase of +43%. In 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a large jump of +173% from the previous revision. However, this figure decreased to Rs 2,010 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a +10% change.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by +557%.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the current value of P.C.M. Colony below that median.

• Pattai Street: Rs 2,750 per sq.ft (2024)
• Periya Palaiyathamman Koil Lane: Rs 3,300 per sq.ft (2024)
• Periya Palaiyathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Parracks Road: Rs 2,750 per sq.ft (2024)
• Periyar Street: Rs 3,850 per sq.ft (2024)
• Parade Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in P.C.M. Colony

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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers P.C.M. Colony?

The Sub Registrar Office covering P.C.M. Colony is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for properties in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which means that understanding the guideline value is essential for both buyers and sellers.

Frequently asked questions

What is the current guideline value of P.C.M. Colony?

The current guideline value of P.C.M. Colony 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 from Rs 502 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of +557%.

What are the stamp duty and registration fees for properties in P.C.M. Colony?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers P.C.M. Colony?

The Chennai South Joint II Sub Registrar Office covers P.C.M. Colony, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, while P.C.M. Colony's current value is below this median.