Guideline Value for P.T.C. Colony 1st Street

P.T.C. Colony 1st Street guideline value

The current guideline value of P.T.C. Colony 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of P.T.C. Colony 1st Street has changed

The guideline value for P.T.C. Colony 1st Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,800 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 saw another increase to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for P.T.C. Colony 1st Street is below this median.

• P.T.C. Colony 2nd Street: Rs 1,900 per sq.ft (2024)
• P.T.C. Colony 3rd Street: Rs 1,900 per sq.ft (2024)
• P.T.C. Colony 4th Street: Rs 1,900 per sq.ft (2024)
• P.T.C. Colony 5th Street: Rs 1,900 per sq.ft (2024)
• Purananooru Street: Rs 1,300 per sq.ft (2024)
• Puthukoil Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in P.T.C. Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.T.C. Colony 1st Street?

The Sub Registrar Office that covers P.T.C. Colony 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor in property transactions in Rajakilpakkam, 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, ensuring that these fees are based on a standardized value.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of P.T.C. Colony 1st Street?

The current guideline value of P.T.C. Colony 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent increase from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024, marking a 6% increase.

What is the land classification for P.T.C. Colony 1st Street?

The land classification for P.T.C. Colony 1st Street is Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in P.T.C. Colony 1st Street?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.