Guideline Value for P.T.C.QUARTERS

P.T.C.Quarters guideline value

The current guideline value for P.T.C.Quarters in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

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

The guideline value for P.T.C.Quarters has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, reflecting a rise of 36%. The most recent 2024 revision has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for P.T.C.Quarters. Overall, the guideline value from 2012 to 2024 shows no change, remaining at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value range from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing P.T.C.Quarters above this median.

• PURUSHOTHAMAN NAGAR 1sT STREET: Rs 2,200 per sq.ft (2024)
• Quarry Street: Rs 1,100 per sq.ft (2024)
• Rabhin Nagar: Rs 2,160 per sq.ft (2024)
• Postal Colony: Rs 2,420 per sq.ft (2024)
• Poonga Street: Rs 2,160 per sq.ft (2024)
• Raghupathy Street: Rs 2,160 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The P.T.C.Quarters area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Nemilicherry. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value ensures that the transaction is recorded accurately and fairly in the government records.

When registering a property, the buyer should be aware that the guideline value will be considered for calculating the fees, which may affect the overall costs involved in the transaction. It is advisable to check the current guideline value before proceeding with any property dealings in the area.

Frequently asked questions

What is the current guideline value for P.T.C.Quarters?

The current guideline value for P.T.C.Quarters is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now back to Rs 2,200 per sq.ft in 2024.

What is the registration fee for properties in P.T.C.Quarters?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

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

The Sub Registrar Office for P.T.C.Quarters is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.