Guideline Value for Pettai Street

Pettai Street guideline value

The current guideline value of Pettai Street in Perungalathur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class III Type - I.

How the guideline value of Pettai Street has changed

Over the years, the guideline value of Pettai Street has undergone several revisions. The earliest recorded value was Rs 300 per sq.ft in 2007, which saw a significant increase to Rs 1,800 per sq.ft in 2012. However, this value decreased to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the most recent revision in 2024 has increased it to Rs 1,980 per sq.ft, marking a 10% rise from the previous year.

In summary, the changes between revisions have been notable. From 2007 to 2012, there was a remarkable increase of 500%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Pettai Street's 2024 value below this median.

• Peruratchi Mandra Theru: Rs 1,980 per sq.ft (2024)
• Perumal Theru: Rs 1,980 per sq.ft (2024)
• Perumal Road: Rs 2,640 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,310 per sq.ft (2024)
• Perumal Koil Street: Rs 1,980 per sq.ft (2024)
• Periyazhvar Theru: Rs 1,980 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 1,980 per sq.ft, the total 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, bringing the total fees together to 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pettai Street?

Pettai Street is covered by the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to determine the minimum price at which the property can be registered. This value helps maintain transparency in property transactions and prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Pettai Street?

The current guideline value of Pettai Street 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 seen multiple revisions, starting from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 560% from the initial value.

What is the stamp duty for a property on Pettai Street?

The stamp duty for a property valued at Rs 19,80,000 on Pettai Street would be Rs 1,38,600, calculated at 7% of the guideline value.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What other streets have the same guideline value as Pettai Street?

Other streets in Perungalathur that share the same guideline value of Rs 1,980 per sq.ft for 2024 include Peruratchi Mandra Theru, Perumal Theru, Perumal Koil Street, and Periyazhvar Theru.