Guideline Value for P.V.S.NAGAR 1ST STREET

P.V.S.Nagar 1st Street guideline value

The current guideline value of P.V.S.Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of P.V.S.Nagar 1st Street has changed

The guideline value for P.V.S.Nagar 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking a 12% rise. Prior to that, the value was Rs 1,675 per sq.ft in 2017, which reflects a significant increase of 49% over the six-year period. The 2012 revision also set the value at Rs 2,500 per sq.ft, indicating a decrease of 33% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median value across these streets is Rs 3,300 per sq.ft, placing P.V.S.Nagar 1st Street's 2024 figure below that median.

• P.V.S.Nagar: Rs 2,800 per sq.ft (2024)
• P.V.S.Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• P.V.S.Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• P.V.S.Nagar Link Road: Rs 2,800 per sq.ft (2024)
• P.T.C.Quarters 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Ptc Quarters 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in P.V.S.Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, these fees would total Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers P.V.S.Nagar 1st Street?

The P.V.S.Nagar 1st Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling a property, it is essential to be aware of the guideline value, as it affects the overall financial obligations involved in the transaction. This value is updated periodically to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of P.V.S.Nagar 1st Street?

The current guideline value of P.V.S.Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, which is a 12% increase. The value was Rs 1,675 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What are the registration fees for properties in P.V.S.Nagar 1st Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at 7%, and the registration fee would be Rs 56,000 at 2%, totaling Rs 2,52,000.

Which office handles the registration for P.V.S.Nagar 1st Street?

The Neelankarai Sub Registrar Office handles the registration for P.V.S.Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with P.V.S.Nagar 1st Street's value being below this median at Rs 2,800 per sq.ft.