Guideline Value for PETTAI STREET

Pettai Street guideline value

The current guideline value of Pettai Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in the village of Cheyyur under the Cheyyur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Pettai Street has changed

The guideline value for Pettai Street has undergone revisions over the years. In the 2017 revision, the value was Rs 268 per sq.ft. This figure remained the same in the 2023 revision, which also recorded Rs 400 per sq.ft. The 2024 revision has maintained this value at Rs 400 per sq.ft, reflecting no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value, indicating a consistent valuation since the 2023 revision.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 101 per sq.ft. Pettai Street's 2024 figure is above this median.

• Perumalkoil Street: Rs 400 per sq.ft (2024)
• Patchiyamman Kovil Street: Rs 101 per sq.ft (2024)
• Puthiyamman Koil: Rs 100 per sq.ft (2024)
• Puthur Colony: Rs 100 per sq.ft (2024)
• Palayar Perumal Kovil Street: Rs 350 per sq.ft (2024)
• Palaiyur Madam Cross Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Pettai Street

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pettai Street?

The Sub Registrar Office that covers Pettai Street is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value plays a crucial role in the registration process of property transactions in Cheyyur - A. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at an appropriate value. This helps maintain transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Pettai Street?

The current guideline value of Pettai Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023 and has remained the same in 2024, showing a 49% increase overall from 2017 to 2024.

What is the land classification of Pettai Street?

Pettai Street falls under the Residential Special Type - II land classification, indicating its intended use for residential purposes.

What are the stamp duty rates for property in Pettai Street?

The stamp duty for property transactions in Pettai Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Pettai Street is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find more information about your SRO online.