Guideline Value for Pettai Street

Pettai Street guideline value

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

How the guideline value of Pettai Street has changed

The guideline value for Pettai Street has seen several revisions over the years. In 2003, the value was Rs 271 per sq.ft, which increased to Rs 330 per sq.ft in 2007. The 2017 revision marked a significant jump to Rs 1,072 per sq.ft, followed by another increase to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2012 in the register for Pettai Street. Overall, from 2003 to 2024, the guideline value has increased by 549%, showcasing a substantial rise over the years.

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. The guideline value for Pettai Street is below this median.

• Pettai Ist Street: Rs 1,760 per sq.ft (2024)
• Pettai Street Lane: 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

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 is calculated at 7%, which equals Rs 1,23,200, while the registration fee at 2% amounts to Rs 35,200. Thus, the total cost for stamp duty and registration fee together is 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?

The Sub Registrar Office that covers Pettai Street 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 plays a crucial role in property transactions in Anakaputhur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the Registration Department and is updated periodically to reflect changes in the market and local conditions.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Pettai Street?

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

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 271 per sq.ft to Rs 1,760 per sq.ft in 2024, marking an overall increase of 549%.

What are the stamp duty and registration fees for property in Pettai Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000. The stamp duty is Rs 1,23,200, and the registration fee is Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Pettai Street?

The Pammal Sub Registrar Office handles property registrations for Pettai Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

Yes, there are several other streets in Anakaputhur with the same guideline value of Rs 1,760 per sq.ft, including Pettai Ist Street, Pettai Street Lane, Pillayar Koil Street, and Pilliyar Koil Ist Lane.