Guideline Value for P.T.C.Colony

P.T.C.Colony guideline value

The current guideline value of P.T.C.Colony, located in Nandambakkam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

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

The guideline value of P.T.C.Colony has seen several revisions over the years. In 2007, the value was set at Rs 75 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking an increase of 833%. However, by 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The value then rose to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 927%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing P.T.C.Colony's 2024 figure below that median.

• P.T.C. Nagar: Rs 770 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 880 per sq.ft (2024)
• Rahmaniya Nagar: Rs 770 per sq.ft (2024)
• Rahmaniya Nagar Phase - II: Rs 770 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 990 per sq.ft (2024)
• Periyar Nagar Extension, Pillaiyar Koil Street: Rs 990 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 rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers P.T.C.Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction complies with local regulations. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 927% over the years.

What are the other streets with guideline values in Nandambakkam?

Other streets in Nandambakkam include P.T.C. Nagar, Radhakrishnan Nagar, Rahmaniya Nagar, Rahmaniya Nagar Phase - II, Rajiv Gandhi Nagar, and Periyar Nagar Extension, each with their respective guideline values.

What is the stamp duty rate for properties in P.T.C.Colony?

The stamp duty rate for properties in P.T.C.Colony is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for P.T.C.Colony?

The Sub Registrar Office for P.T.C.Colony is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.