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 Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

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

The guideline value for Psa Nagar (Ward -1) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. In 2017, this value decreased by 33% to Rs 536 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the guideline value up to Rs 800 per sq.ft. The latest revision in 2024 set the value at Rs 880 per sq.ft, representing a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this village is Rs 770 per sq.ft, which means that Psa Nagar (Ward -1) is above this median at Rs 880 per sq.ft.

• 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 1,651 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 1,651 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, and the registration fee at 2% would be Rs 17,600, totaling 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 our 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.

To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Potheri. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair value. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value.

When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees. If the sale price exceeds the guideline value, the higher amount will be used for calculating these fees, ensuring compliance with legal requirements.

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?

Since 2012, the guideline value has seen various changes, starting from Rs 800 per sq.ft in 2012, decreasing to Rs 536 per sq.ft in 2017, then increasing to Rs 800 per sq.ft in 2023, and finally reaching Rs 880 per sq.ft in 2024.

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

Psa Nagar (Ward -1) is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 79,200 based on the current guideline value.

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

The Chengleput Joint II Sub Registrar Office covers Psa Nagar (Ward -1) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.