Guideline Value for PSA NAGAR (WARD -1)

Psa Nagar (Ward -1) guideline value

The current guideline value of Psa Nagar (Ward -1) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Psa Nagar (Ward -1) has changed

Over the years, the guideline value for Psa Nagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft. The 2023 revision increased it to Rs 800 per sq.ft again, and the latest 2024 revision raised it further to Rs 880 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Psa Nagar's 2024 figure above this median.

• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)
• Pilliyar Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Pillaiyar Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Perumal Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Psa Nagar (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Psa Nagar (Ward -1)?

The Sub Registrar Office that covers Psa Nagar (Ward -1) 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 additional information.

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

The guideline value is a critical factor in the registration process for property transactions in Konathi. It serves as the basis for calculating stamp duty and registration fees, which are essential costs incurred during the buying or selling of property.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Psa Nagar (Ward -1)?

The current guideline value of Psa Nagar (Ward -1) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Psa Nagar (Ward -1)?

Psa Nagar (Ward -1) is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in Psa Nagar (Ward -1)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,80,000, the total charges would be Rs 79,200.

Where is the Sub Registrar Office for Psa Nagar (Ward -1) located?

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