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 Vallancheri village and falls under the Chengleput Joint II SRO, classified as 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 seen several revisions over the years. The earliest available figure is from 2012, which was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017, and then an increase back to Rs 800 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 880 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are significant. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest revision from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a modest 10% increase.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Psa Nagar (Ward -1) above that median with its current value of 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 1,650 per sq.ft (2024)
• Pillaiyar Koil Street Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Rajendra Nagar (Ward -1): Rs 880 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 rate of Rs 880 per sq.ft, the 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, leading to a total of 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling a property, the guideline value impacts the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

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 median guideline value in Vallancheri?

The median guideline value for streets in Vallancheri is Rs 825 per sq.ft. Psa Nagar (Ward -1) is currently valued above this median.

What fees are associated with purchasing property in Psa Nagar (Ward -1)?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

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.