Guideline Value for PETHANAIDU STREET (WARD -17)

Pethanaidu Street (Ward -17) guideline value

The current guideline value of Pethanaidu Street (Ward -17) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, 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 earliest available figure is from 2012, where it was set at Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. In 2023, the value increased to Rs 600 per sq.ft and then further rose to Rs 661 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decline of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Pethanaidu Street's 2024 guideline value of Rs 661 per sq.ft is below this median.

• Pillai Tamiz Street (N): Rs 661 per sq.ft (2024)
• Perumal Koil Street (Ward -17): Rs 661 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 661 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 550 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 550 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 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220. Together, the total cost for stamp duty and registration would be Rs 59,490. It is important to note that the 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in the registration process when buying or selling property in Peramanoor. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally within the jurisdiction.

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 661 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 back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024. This represents an overall increase of 10% from 2012 to 2024.

What is the land classification of Pethanaidu Street (Ward -17)?

Pethanaidu Street (Ward -17) is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pethanaidu Street (Ward -17)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,61,000, the stamp duty would be Rs 46,270 at 7%.