Guideline Value for P.S.Nagar Ph.II

P.S.Nagar Ph.II guideline value

The current guideline value of P.S.Nagar Ph.II is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Sethupattu village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of P.S.Nagar Ph.II has changed

The guideline value for P.S.Nagar Ph.II has undergone several revisions over the years. In 2012, the guideline value was set at Rs 250 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a reduction of 33%. However, by the 2023 revision, the value increased by 50% to Rs 250 per sq.ft, which was consistent with the 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the guideline values for these years remain unspecified. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

Guideline values in Sethupattu

In Sethupattu village, there are 23 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for P.S.Nagar Ph.II is below this median.

• P.S.Nagar: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• Sabari Nagar: Rs 300 per sq.ft (2024)
• Sathya Nagar: Rs 450 per sq.ft (2024)
• Maruthi Nagar: Rs 250 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 150 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty charged at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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.S.Nagar Ph.II?

The P.S.Nagar Ph.II area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Sethupattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that all transactions are recorded accurately and fairly in the official records.

Frequently asked questions

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

The current guideline value of P.S.Nagar Ph.II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 250 per sq.ft in both 2023 and 2024. It was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012, showing fluctuations over the years.

What are the other streets in Sethupattu with their guideline values?

Other streets in Sethupattu include P.S.Nagar, Perumal Koil Street, Sabari Nagar, Sathya Nagar, Maruthi Nagar, and Sri Hayagreevar Nagar, with guideline values ranging from Rs 150 to Rs 450 per sq.ft for 2024.

What are the fees for registering property in P.S.Nagar Ph.II?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500, and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for P.S.Nagar Ph.II?

The Sriperumpudur Sub Registrar Office handles registrations for P.S.Nagar Ph.II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.