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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 2012 revision set the value at Rs 600 per sq.ft, which was later reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision has raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, making the 2024 guideline value for Pethanaidu Street 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 440 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 440 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 rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Pethanaidu Street (Ward -17) is 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 Panangottur

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Pethanaidu Street?

Pethanaidu Street falls under the Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for Pethanaidu Street?

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

How is stamp duty calculated for properties in Pethanaidu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty and registration fee of Rs 59,400.