Guideline Value for Pethel Nagar

Pethel Nagar guideline value

The current guideline value of Pethel Nagar, located in Vattampakkam village under the Sunguvarchattram SRO, is Rs 426 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Pethel Nagar has changed

The guideline value for Pethel Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 425 per sq.ft, which slightly decreased to Rs 285 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it back to Rs 426 per sq.ft, a figure that has remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0% over this period.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO with a 2024 guideline value range from Rs 200 to Rs 1,790 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, positioning Pethel Nagar's 2024 value above that median.

• Perumal Kovil Street (colony): Rs 200 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)
• Ponniamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Parivender Nagar: Rs 500 per sq.ft (2024)
• OMS green city: Rs 1,790 per sq.ft (2024)
• Rockey Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Pethel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 426 per sq.ft, the total guideline value amounts to Rs 4,26,000. The stamp duty, calculated at 7%, would be Rs 29,820, and the registration fee at 2% would be Rs 8,520, bringing the total fees to Rs 38,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pethel Nagar?

The Sub Registrar Office that covers Pethel Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vattampakkam. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pethel Nagar?

The current guideline value of Pethel Nagar is Rs 426 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 426 per sq.ft from 2023 to 2024. It increased from Rs 285 per sq.ft in 2017 to Rs 426 per sq.ft in 2023, representing a 49% increase.

What is the land classification of Pethel Nagar?

Pethel Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Pethel Nagar?

For a property valued at Rs 4,26,000, the stamp duty would be Rs 29,820 and the registration fee would be Rs 8,520, totaling Rs 38,340. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pethel Nagar located?

The Sub Registrar Office for Pethel Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.