Guideline Value for Petharya Nagar

Petharya Nagar guideline value

The current guideline value of Petharya Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Eraiyur village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Petharya Nagar has changed

The guideline value for Petharya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also recorded at Rs 200 per sq.ft. The 2017 revision marked a significant increase to Rs 134 per sq.ft, showing a 49% increase from the previous revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the overall change from the 2012 revision to the 2024 revision is 0%, as both years reflect a guideline value of Rs 200 per sq.ft. The current 2024 guideline value remains consistent with the 2023 figure, showing no percentage change.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Petharya Nagar's 2024 figure at this median level.

• Pavalavannan @ Vidhaya Nagar: Rs 200 per sq.ft (2024)
• Rajiv Town: Rs 200 per sq.ft (2024)
• Saibaba Nagar: Rs 200 per sq.ft (2024)
• Mettu Colony: Rs 100 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Mahakavi Subramaniya Bharthi Nagar I: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Petharya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Petharya Nagar?

The Sub Registrar Office that covers Petharya Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Eraiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation.

During the registration process, the guideline value serves as a benchmark for assessing the property's worth. Buyers and sellers must consider this value to avoid discrepancies in the transaction and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Petharya Nagar?

The current guideline value of Petharya Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 134 per sq.ft in 2017. The 2023 revision also recorded Rs 200 per sq.ft, showing no change from the previous year.

What is the land classification for Petharya Nagar?

Petharya Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Petharya Nagar?

The Sub Registrar Office for Petharya Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Petharya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur a total of Rs 18,000 in stamp duty and registration fees combined.