Guideline Value for p.t.s.nagar

P.T.S.Nagar guideline value

The current guideline value of P.T.S.Nagar, located in Nenmeli village under the Chengleput Joint I SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of P.T.S.Nagar has changed

The guideline value for P.T.S.Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision marked a decrease to Rs 335 per sq.ft, showing a decline of 33% from the previous figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 500 per sq.ft. The current 2024 revision maintains this value, resulting in an overall change of 0% from the 2012 revision to the 2024 revision.

Guideline values in Nenmeli

In Nenmeli village, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 612 per sq.ft, indicating that P.T.S.Nagar's current value is below this median.

• Rajeswari Nagar: Rs 550 per sq.ft (2024)
• Raj Garden: Rs 500 per sq.ft (2024)
• Ram Ravi Nagar: Rs 800 per sq.ft (2024)
• Reputes Prosperity Avenue: Rs 600 per sq.ft (2024)
• Sai City: Rs 800 per sq.ft (2024)
• Sailakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in P.T.S.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000 for these charges. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.T.S.Nagar?

P.T.S.Nagar falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Nenmeli. It serves as a basis for calculating stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be recognized by the registration authorities. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of P.T.S.Nagar?

The current guideline value of P.T.S.Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in 2012, 2023, and 2024. It decreased to Rs 335 per sq.ft in 2017 and increased by 49% from 2017 to 2023.

What is the land classification of P.T.S.Nagar?

P.T.S.Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in P.T.S.Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These charges are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for P.T.S.Nagar?

The Chengleput Joint I Sub Registrar Office handles registrations for P.T.S.Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.