Guideline Value for P.S.Nagar

P.S.Nagar guideline value

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

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

In the 2012 revision, 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 decline of 33%. The value then increased by 50% in the 2023 revision, bringing it back to Rs 250 per sq.ft. The current 2024 revision also maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figure for P.S.Nagar for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen no net change.

Guideline values in Sethupattu

In Sethupattu, there are 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value, 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 is below this median.

• P.S.Nagar Ph.II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total cost for these charges 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers P.S.Nagar?

The Sub Registrar Office that covers P.S.Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Sethupattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of P.S.Nagar 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 changes, with a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, there has been no net change.

What is the land classification for P.S.Nagar?

The land classification for P.S.Nagar is Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for P.S.Nagar?

The Sub Registrar Office for P.S.Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in P.S.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000, resulting in a stamp duty of Rs 17,500.