Guideline Value for Petter Colony Main Road

Petter Colony Main Road guideline value

The current guideline value of Petter Colony Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Petter Colony Main Road has changed

The guideline value for Petter Colony Main Road has seen several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which rose dramatically to Rs 3,500 per sq.ft in 2012, marking an increase of 367%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,900 per sq.ft, reflecting an 11% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 420%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with the median value being Rs 3,900 per sq.ft. The guideline value of Petter Colony Main Road aligns with this median.

• Petters Colony: Rs 3,900 per sq.ft (2024)
• Pongi Madalayam Street (SIP Colony): Rs 4,400 per sq.ft (2024)
• Periyar Nagar: Rs 3,900 per sq.ft (2024)
• Radha Puram: Rs 3,900 per sq.ft (2024)
• Raghupathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Petter Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Petter Colony Main Road?

The Sub Registrar Office that covers Petter Colony Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Petter Colony Main Road?

The current guideline value of Petter Colony Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 750 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 420%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 3,51,000.

Which Sub Registrar Office handles registrations for Petter Colony Main Road?

The Alandur Sub Registrar Office handles registrations for Petter Colony Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Thalakanancherry with guideline values?

Other streets in Thalakanancherry include Petters Colony, Pongi Madalayam Street (SIP Colony), Periyar Nagar, Radha Puram, Raghupathi Nagar 1st Street, and Raghupathi Nagar 2nd Street, with varying guideline values.