Guideline Value for P.M.S Nagar

P.M.S Nagar guideline value

The current guideline value of P.M.S Nagar, located in Papanguzhi village under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of P.M.S Nagar has changed

The guideline value for P.M.S Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 300 per sq.ft. This remained unchanged in the subsequent revision in 2017, where it was also Rs 201 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. The most recent revision in 2024 has maintained this value at Rs 300 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, when looking at the changes from 2012 to 2024, the guideline value has remained stable, with a total increase of 0%.

Guideline values in Papanguzhi

Papanguzhi village has a range of guideline values across its streets, with 9 streets under the Sunguvarchattram SRO carrying a 2024 figure between Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing P.M.S Nagar's 2024 figure above that median.

• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• Palla Street: Rs 200 per sq.ft (2024)
• padasalai Street: Rs 200 per sq.ft (2024)
• odai Street: Rs 300 per sq.ft (2024)
• Sri Sathya Sai Nagar(Akshara City): Rs 500 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in P.M.S Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.M.S Nagar?

The Sub Registrar Office that covers P.M.S Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Papanguzhi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is registered, the guideline value is used to calculate the applicable duties. This means that both buyers and sellers should take the guideline value into account when negotiating sale prices, as it can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of P.M.S Nagar?

The current guideline value of P.M.S Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 300 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. The value was Rs 201 per sq.ft in 2017.

What are the guideline values of other streets in Papanguzhi?

Other streets in Papanguzhi have varying guideline values ranging from Rs 200 to Rs 500 per sq.ft. P.M.S Nagar's value is above the median of Rs 200 per sq.ft.

What fees are associated with buying property in P.M.S Nagar?

When buying property in P.M.S Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for P.M.S Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations for P.M.S Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.