Guideline Value for Main Road Pattu

Main Road Pattu guideline value

The current guideline value of Main Road Pattu is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Main Road Pattu has changed

The guideline value for Main Road Pattu has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 raised the value further to Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value range from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, and Main Road Pattu's 2024 figure is above this median.

• Manali Ramakrishna Avenue: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar IIIrd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar IInd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar Ist Street: Rs 2,200 per sq.ft (2024)
• Mangadu Main Road: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road Pattu

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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the 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 Main Road Pattu?

The Sub Registrar Office covering Main Road Pattu is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a critical factor during the registration of property transactions in Mangadu -A. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per the government regulations.

When buying or selling property, both parties must be aware of the guideline value to avoid discrepancies during registration. This value serves as a benchmark for determining the appropriate fees and taxes associated with the transaction.

Frequently asked questions

What is the current guideline value of Main Road Pattu?

The current guideline value of Main Road Pattu 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Main Road Pattu?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Main Road Pattu?

The Kunrathur Sub Registrar Office handles property registrations for Main Road Pattu, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum value for calculating stamp duty and registration fees, ensuring compliance with government regulations.