Guideline Value for Peter Street, Thiru Nagar

Peter Street, Thiru Nagar guideline value

The current guideline value of Peter Street, Thiru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Peter Street, Thiru Nagar has changed

The guideline value for Peter Street has seen significant changes over the years. In 2017, the value was Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Peter Street's 2024 guideline value is below this median.

• Peter Street: Rs 1,980 per sq.ft (2024)
• Pillaippan Street /Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillaiyar Koil Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Pillaiyar Koil Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Pillaiyar Koil Street. H.L. Colony: Rs 2,530 per sq.ft (2024)
• Pillaiyar Koil Street, Ponni Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Peter Street, Thiru Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Peter Street, Thiru Nagar?

The Sub Registrar Office that covers Peter Street, Thiru Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value of a property, ensuring that the sale price is in line with government regulations.

When buying or selling property, the guideline value helps in calculating the necessary stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures transparency and compliance with local real estate laws.

Frequently asked questions

What is the current guideline value of Peter Street, Thiru Nagar?

The current guideline value of Peter Street, Thiru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Peter Street?

Peter Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees can amount to Rs 1,78,200.

Where is the Sub Registrar Office located for Peter Street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.