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 Sattamangalam 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 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then rose again to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change in guideline value is a 10% increase. The value rose by 49% from 2017 to 2023, and the decrease from 2012 to 2017 was 33%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Pethanaidu Street's 2024 figure 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 guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total fees Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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 Sattamangalam

The guideline value plays a crucial role during property registration in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the higher of the guideline value or the sale price of the property.

When engaging in a property transaction, it is essential to be aware of the guideline value as it directly impacts the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about the current rates to avoid any surprises during 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 changed several times, starting from Rs 600 per sq.ft in 2012, decreasing to Rs 402 per sq.ft in 2017, then increasing to Rs 600 per sq.ft in 2023, and finally rising to Rs 660 per sq.ft in 2024.

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

Pethanaidu Street (Ward -17) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

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 or the sale price, whichever is higher.

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

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