Guideline Value for Power Grid Colony

Power Grid Colony guideline value

The current guideline value of Power Grid Colony, located in Pennaloor village under the Sriperumpudur SRO, is Rs 200 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Power Grid Colony has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a drop of 33%. However, in the 2023 revision, the value returned to Rs 200 per sq.ft, and this figure remained the same in the 2024 revision, indicating a 0% change between 2023 and 2024. Overall, from 2012 to 2024, the guideline value has not changed.

Between the 2017 and 2023 revisions, there was a significant increase of 49%, bringing the value back to its previous level of Rs 200 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pennaloor

In Pennaloor, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,200 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Power Grid Colony aligns with this median figure.

• Prasanthi Nagar - I: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - II: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - III: Rs 500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 100 per sq.ft (2024)
• Perumal Nagar: Rs 200 per sq.ft (2024)
• Palvadi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Power Grid Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is essential 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 details.

Which Sub Registrar Office covers Power Grid Colony?

The Sub Registrar Office that covers Power Grid Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pennaloor. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer registers a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Power Grid Colony?

The current guideline value of Power Grid Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent figures being Rs 200 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Power Grid Colony?

Power Grid Colony is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

Where can I find the registration office for Power Grid Colony?

The registration office for Power Grid Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Power Grid Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7% and a registration fee of Rs 4,000 at 2%.