Guideline Value for PETHANAIDU STREET (WARD -17)

Pethanaidu Street (Ward -17) guideline value

The current guideline value of Pethanaidu Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Pethanaidu Street (Ward -17) has changed

The guideline value for Pethanaidu Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is a 10% increase from the 2023 revision of Rs 600 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 402 per sq.ft, marking a significant increase of 49% compared to the 2023 figure. The 2012 revision also had a value of Rs 600 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. As such, the earliest recorded value remains from the 2012 revision.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value for the village is Rs 1,100 per sq.ft, which means that Pethanaidu Street's current value is below this median.

• Pillai Tamiz Street (N): Rs 660 per sq.ft (2024)
• Perumal Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 660 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 660 per sq.ft (2024)
• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Pethanaidu Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400 for these fees. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Pethanaidu Street (Ward -17)?

Pethanaidu Street (Ward -17) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Ninna Karai, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when purchasing a property.

When selling a property, the guideline value ensures that the transaction is transparent and reflects the official valuation set by the authorities. It serves as a benchmark for both buyers and sellers to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Pethanaidu Street (Ward -17)?

The current guideline value of Pethanaidu Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. The value has increased by 49% from Rs 402 per sq.ft in 2017 to 2023.

What is the land classification for Pethanaidu Street?

Pethanaidu Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Pethanaidu Street?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value.

Which office handles registrations for Pethanaidu Street (Ward -17)?

The Chengleput Joint II Sub Registrar Office handles registrations for Pethanaidu Street (Ward -17), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.