Guideline Value for Pettai Street Lane

Pettai Street Lane guideline value

The current guideline value of Pettai Street Lane is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pettai Street Lane has changed

The guideline value for Pettai Street Lane has seen significant changes over the years. In 2003, the value was Rs 271 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the 2017 revision marked a substantial rise to Rs 1,072 per sq.ft, reflecting a 257% increase from the 2007 figure. However, there are no figures available for the years 2002 and 2012.

From 2017 to 2023, the guideline value rose to Rs 1,600 per sq.ft, a 49% increase. The most recent revision in 2024 shows the guideline value at Rs 1,760 per sq.ft, marking a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 549%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. Pettai Street Lane's 2024 figure is below this median.

• Pettai Street: Rs 1,760 per sq.ft (2024)
• Pettai Ist Street: Rs 1,760 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,760 per sq.ft (2024)
• Pillayar Koil Street (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Pilliyar Koil Ist Lane: Rs 1,760 per sq.ft (2024)
• Periya Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Pettai Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pettai Street Lane?

The Sub Registrar Office that covers Pettai Street Lane is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Anakaputhur

The guideline value is a crucial factor when registering property in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pettai Street Lane?

The current guideline value of Pettai Street Lane is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 271 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 549% over this period.

What is the registration office for Pettai Street Lane?

The registration office for Pettai Street Lane is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. These fees are calculated based on the guideline value of the property.

Are there other streets with the same guideline value in Anakaputhur?

Yes, other streets in Anakaputhur, such as Pettai Street, Pettai Ist Street, and Pillayar Koil Street, also have a guideline value of Rs 1,760 per sq.ft in 2024.