Guideline Value for P.T.C.COLONY 2ND STREET

P.T.C.Colony 2nd Street guideline value

The current guideline value of P.T.C.Colony 2nd Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of P.T.C.Colony 2nd Street has changed

The guideline value for P.T.C.Colony 2nd Street has undergone several revisions over the years. The oldest registered figure is from 2012, where it was Rs 6,500 per sq.ft. This was followed by a decrease to Rs 4,355 per sq.ft in 2017. The value then increased significantly to Rs 6,500 per sq.ft in 2023, before reaching the current value of Rs 7,150 per sq.ft in the 2024 revision.

In terms of changes, the guideline value rose by 10% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing P.T.C.Colony 2nd Street's 2024 figure below that median.

• P.T.C.Colony 1st 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: 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 2nd Street

For a 1,000 sq.ft plot 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, bringing the total fees together to Rs 6,43,500. 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 details.

Which Sub Registrar Office covers P.T.C.Colony 2nd Street?

P.T.C.Colony 2nd Street is covered by 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 for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it influences the overall cost of registering the property. Buyers and sellers should ensure they are informed about the current rates to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of P.T.C.Colony 2nd Street?

The current guideline value of P.T.C.Colony 2nd Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the land classification for P.T.C.Colony 2nd Street?

P.T.C.Colony 2nd Street is classified as Residential Class IV Type - I.

Where can I find the registration office for P.T.C.Colony 2nd Street?

The registration office for P.T.C.Colony 2nd Street 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.

How is stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.