Guideline Value for P.M.D. Nagar 2St Street

P.M.D. Nagar 2St Street guideline value

The current guideline value of P.M.D. Nagar 2St Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of P.M.D. Nagar 2St Street has changed

The guideline value for P.M.D. Nagar 2St Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. Subsequently, the 2023 revision increased the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 revision to the current 2024 value.

Guideline values in Peerklankaranai

Peerklankaranai village has a total of 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current value of P.M.D. Nagar 2St Street.

• P.M.D. Nagar 1St Street: Rs 1,650 per sq.ft (2024)
• P.M.D. Nagar: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street: Rs 1,320 per sq.ft (2024)
• Perarinjar Anna Street: Rs 1,320 per sq.ft (2024)
• Pathmanaban Street: Rs 1,320 per sq.ft (2024)
• Parijadham Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in P.M.D. Nagar 2St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that 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.M.D. Nagar 2St Street?

The Sub Registrar Office that covers P.M.D. Nagar 2St Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of P.M.D. Nagar 2St Street?

The current guideline value of P.M.D. Nagar 2St Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for P.M.D. Nagar 2St Street?

P.M.D. Nagar 2St Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for P.M.D. Nagar 2St Street?

The Sub Registrar Office for P.M.D. Nagar 2St Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in P.M.D. Nagar 2St Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 incurs a stamp duty of Rs 1,15,500.