Guideline Value for P.T.C. COLONY

P.T.C. Colony guideline value

The current guideline value of P.T.C. Colony, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of P.T.C. Colony has changed

The guideline value for P.T.C. Colony has seen significant changes over the years. In 2002, the guideline value was Rs 679 per sq.ft, which increased to Rs 751 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 1,300 per sq.ft in 2007, reflecting a substantial 73% growth. By 2012, the value reached Rs 6,500 per sq.ft, demonstrating a remarkable 400% increase from the previous revision. However, this was followed by a decrease to Rs 4,355 per sq.ft in 2017, which represented a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 6,500 per sq.ft, a 49% increase. The most recent revision in 2024 sees the value at Rs 7,150 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 953%.

Guideline values in Thiruvanmiyur

Thiruvanmiyur village has a range of guideline values across its 484 streets under the Chennai South Joint I SRO, with figures varying from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, indicating that the 2024 guideline value for P.T.C. Colony is below this median.

• P.T.C.Colony 1st Street: Rs 7,150 per sq.ft (2024)
• P.T.C.Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• P.T.C.Colony 3rd Street: Rs 7,150 per sq.ft (2024)
• P.T.C.Colony 4th Street: Rs 7,150 per sq.ft (2024)
• P.T.C.Colony 5th Street: Rs 7,150 per sq.ft (2024)
• Puthiran Kanni Kutai Slum: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in P.T.C. Colony

For a 1,000 sq.ft plot in P.T.C. Colony at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total cost for these fees Rs 6,43,500. 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 information.

Which Sub Registrar Office covers P.T.C. Colony?

The Sub Registrar Office that covers P.T.C. Colony is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO online for further assistance.

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

The guideline value is a critical factor in property transactions in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This ensures that all parties involved are informed and can plan accordingly for the expenses associated with the registration process.

Frequently asked questions

What is the current guideline value of P.T.C. Colony?

The current guideline value of P.T.C. Colony is Rs 7,150 per sq.ft, effective from 1 July 2024. This value is determined by the Chennai South Joint I SRO.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 679 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of 953%. The values have fluctuated through various revisions, with the most recent increase being 10% from 2023 to 2024.

What are the stamp duty and registration fees for P.T.C. Colony?

The stamp duty for property in P.T.C. Colony is 7%, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 6,43,500.

Where is the Sub Registrar Office for P.T.C. Colony located?

The Chennai South Joint I Sub Registrar Office covers P.T.C. Colony and is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What other streets have the same guideline value as P.T.C. Colony?

Other streets in Thiruvanmiyur that share the same guideline value of Rs 7,150 per sq.ft include P.T.C.Colony 1st Street, P.T.C.Colony 2nd Street, P.T.C.Colony 3rd Street, P.T.C.Colony 4th Street, P.T.C.Colony 5th Street, and Puthiran Kanni Kutai Slum.