Guideline Value for P.G.P Nagar Extension

P.G.P Nagar Extension guideline value

The current guideline value for P.G.P Nagar Extension is Rs 2,210 per sq.ft. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - II.

How the guideline value of P.G.P Nagar Extension has changed

Over the years, the guideline value for P.G.P Nagar Extension has seen significant increases. The 2017 revision recorded a value of Rs 1,340 per sq.ft. This figure rose to Rs 2,010 per sq.ft in the 2023 revision, marking a 50% increase. The most recent revision in 2024 set the guideline value at Rs 2,210 per sq.ft, reflecting a 10% increase from the previous year.

In total, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO carrying a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and the guideline value for P.G.P Nagar Extension is above this median.

• P.G.P Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar koil st: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in P.G.P Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,210 per sq.ft, the total guideline value amounts to Rs 22,10,000. The stamp duty at 7% would be Rs 1,54,700, and the registration fee at 2% would be Rs 44,200, bringing the total cost for these fees to Rs 1,98,900. 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.G.P Nagar Extension?

P.G.P Nagar Extension falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, providing transparency in transactions. Buyers and sellers must consider this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for P.G.P Nagar Extension?

The current guideline value for P.G.P Nagar Extension is Rs 2,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,210 per sq.ft in 2024, reflecting a total increase of 65% over the seven-year period.

What are the stamp duty and registration fees for property in P.G.P Nagar Extension?

For a property valued at Rs 22,10,000, the stamp duty would be Rs 1,54,700, and the registration fee would be Rs 44,200, totaling Rs 1,98,900.

Which office handles registrations for P.G.P Nagar Extension?

The Poonamallee Sub Registrar Office handles registrations for P.G.P Nagar Extension, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value determined?

The guideline value is determined based on various factors, including land classification and previous revisions. It reflects the minimum value for property registration in the area.