Guideline Value for PLANTINAM NAGAR PHASE-II

Plantinam Nagar Phase-II guideline value

The current guideline value of Plantinam Nagar Phase-II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Plantinam Nagar Phase-II has changed

Over the years, the guideline value for Plantinam Nagar Phase-II has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 500 per sq.ft. The 2017 revision marked a significant increase to Rs 335 per sq.ft, reflecting a 49% increase from the previous revision. However, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall guideline value has remained stable at Rs 500 per sq.ft, indicating no change. The 2023 to 2024 revision also shows no change, with the guideline value remaining at Rs 500 per sq.ft.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Plantinam Nagar Phase-II is above this median.

• Ragavendra Nagar: Rs 400 per sq.ft (2024)
• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Rajesh Nagar: Rs 400 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Plantinam Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Plantinam Nagar Phase-II?

The Sub Registrar Office that covers Plantinam Nagar Phase-II 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Venkatapuram. It is used as a benchmark for calculating stamp duty and registration fees, ensuring that the government collects appropriate revenue from property sales. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that properties are not undervalued for the purpose of registration, maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Plantinam Nagar Phase-II?

The current guideline value of Plantinam Nagar Phase-II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a significant increase from Rs 335 per sq.ft in 2017, reflecting a 49% increase. There have been no changes from 2023 to 2024.

What is the land classification for Plantinam Nagar Phase-II?

Plantinam Nagar Phase-II is classified as Residential Special Type - I, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Which office handles property registrations in Plantinam Nagar Phase-II?

The Chengleput Joint II Sub Registrar Office handles property registrations for Plantinam Nagar Phase-II, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.