Guideline Value for Petters Colony

Petters Colony guideline value

The current guideline value of Petters Colony, located in Thalakanancherry village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Petters Colony has changed

Over the years, the guideline value for Petters Colony has seen significant changes. The 2007 revision recorded a value of Rs 750 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, this value decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

The overall change from the 2007 revision to the 2024 revision is a remarkable increase of 420%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Petters Colony.

• Petter Colony Main Road: 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 Petters Colony

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 fees 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 more information.

Which Sub Registrar Office covers Petters Colony?

The Sub Registrar Office that covers Petters Colony 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are conducted at a standardized value set by the authorities.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in assessing the appropriate fees that need to be paid during the registration process.

Frequently asked questions

What is the current guideline value of Petters Colony?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 750 per sq.ft to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 420%.

What is the land classification of Petters Colony?

Petters Colony falls under the Residential Class I Type - III land classification.

What other streets have similar guideline values in Thalakanancherry?

Other streets in Thalakanancherry, such as Petter Colony Main Road, Periyar Nagar, and Radha Puram, also have a guideline value of Rs 3,900 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Petters Colony?

The Sub Registrar Office for Petters Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.