Guideline Value for East Railway Pattai

East Railway Pattai guideline value

The current guideline value of East Railway Pattai, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of East Railway Pattai has changed

The guideline value for East Railway Pattai has seen several revisions since 2002. In 2002, the value was Rs 180 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 16% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, which was a 140% jump. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a 300% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1122%. The register has no figure for the years not listed above.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, placing East Railway Pattai's 2024 figure below that median.

• East Cabin Road: Rs 2,200 per sq.ft (2024)
• Eluthukkaran Street: Rs 3,400 per sq.ft (2024)
• Ennur High Road: Rs 3,400 per sq.ft (2024)
• Gandhi Nagar Street/Main Road: Rs 3,400 per sq.ft (2024)
• Damodaran Street: Rs 3,400 per sq.ft (2024)
• Colony Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in East Railway Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Railway Pattai?

The Sub Registrar Office that covers East Railway Pattai is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of East Railway Pattai?

The current guideline value of East Railway Pattai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 180 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1122% over the years.

What is the land classification for East Railway Pattai?

The land classification for East Railway Pattai is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for East Railway Pattai?

The Sub Registrar Office for East Railway Pattai is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in East Railway Pattai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.