Guideline Value for PSA NAGAR (WARD -1)

Psa Nagar (Ward -1) guideline value

The current guideline value for Psa Nagar (Ward -1) is Rs 881 per sq.ft, effective from 1 July 2024. This area is located in Thailavaram 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 has seen several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 536 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 800 per sq.ft in 2023, and further rose to Rs 881 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets 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)
• P.N.N Avenue: Rs 2,200 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)

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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total fees together to Rs 79,290. It is important to note that 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 more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Thailavaram. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, providing transparency and consistency in property dealings. It is essential for buyers and sellers to be aware of the guideline value to understand their financial obligations during the registration process.

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 881 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 to Rs 800 per sq.ft in 2023, and finally to Rs 881 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.

Where can I find the Sub Registrar Office for Psa Nagar (Ward -1)?

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

How is stamp duty calculated for properties in Psa Nagar (Ward -1)?

Stamp duty for properties in Psa Nagar (Ward -1) is calculated at 7% of the higher value between the guideline value and the sale price. Registration fees are charged at 2% of the guideline value or sale price, whichever is applicable.