Guideline Value for P.T.C. Colony

P.T.C. Colony guideline value

The current guideline value for P.T.C. Colony, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 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.T.C. Colony has changed

Looking at the revisions, the guideline value for P.T.C. Colony was Rs 1,200 per sq.ft in both the 2012 and 2023 revisions. The most recent 2024 revision increased this value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for P.T.C. Colony is below this median.

• P.R.H. Road (Ward-29): Rs 3,250 per sq.ft (2024)
• Prashanth Nagar: Rs 1,600 per sq.ft (2024)
• Pukraj Nagar 1, 2 & 3 Connecting Road (Ward No.14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 1st Cross Street (Ward-14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 1st St (Ward-14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 1st st (Ward No.14): Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 details.

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

The Sub Registrar Office that covers P.T.C. Colony is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When you buy or sell property, the guideline value is used to determine the applicable duties and fees, which are calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023 and increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What are the other streets in Madhavaram and their guideline values?

Other streets in Madhavaram include P.R.H. Road (Ward-29) at Rs 3,250 per sq.ft, Prashanth Nagar at Rs 1,600 per sq.ft, and several streets in Pukraj Nagar at Rs 2,200 per sq.ft.

How is stamp duty calculated in P.T.C. Colony?

Stamp duty in P.T.C. Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 91,000 based on the current guideline value.

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

The Sub Registrar Office for P.T.C. Colony is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.