Guideline Value for P.W.D Colony

P.W.D Colony guideline value

The current guideline value of P.W.D Colony in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of P.W.D Colony has changed

The guideline value for P.W.D Colony has undergone several revisions over the years. In 2012, it was set at Rs 1,200 per sq.ft. This figure dropped to Rs 804 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has brought the value to Rs 1,300 per sq.ft, an 8% increase from the previous year.

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

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that P.W.D Colony's 2024 figure is below this median.

• P.W.D. Quarters: Rs 1,300 per sq.ft (2024)
• Q.Q. Scheme Road: Rs 1,600 per sq.ft (2024)
• Puthumanai Kuppam Pradana Salai: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 7th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 6th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.W.D Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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. 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 details.

Which Sub Registrar Office covers P.W.D Colony?

The Sub Registrar Office covering P.W.D Colony is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. The value ensures that the state government collects the appropriate taxes on property transactions.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This process helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of P.W.D Colony?

The current guideline value of P.W.D 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for P.W.D Colony?

P.W.D Colony is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for P.W.D Colony?

The Sub Registrar Office for P.W.D Colony is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in P.W.D Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.