Guideline Value for North Pattai

North Pattai guideline value

The current guideline value of North Pattai, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of North Pattai has changed

The guideline value of North Pattai has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This figure saw a significant increase to Rs 3,100 per sq.ft in 2012, marking a rise of 520%. However, in 2017, the value decreased to Rs 2,077 per sq.ft, a drop of 33%. The 2023 revision brought the value back to Rs 3,100 per sq.ft, and the most recent revision in 2024 set it at Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 580%.

Guideline values in Satthankadu

In Satthankadu, 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 is Rs 3,400 per sq.ft, which is equal to the current guideline value of North Pattai. Below are the guideline values for other streets in Satthankadu:

• North PRAGARAM Street: Rs 3,400 per sq.ft (2024)
• North Mada Street: Rs 3,400 per sq.ft (2024)
• North Lane: Rs 3,400 per sq.ft (2024)
• New Street: Rs 3,900 per sq.ft (2024)
• Ottravadai Street: Rs 3,400 per sq.ft (2024)
• Padmanabhan colony: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in North Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. 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 details.

Which Sub Registrar Office covers North Pattai?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the sale. It is crucial to refer to the latest guideline values to ensure accurate calculations.

Frequently asked questions

What is the current guideline value of North Pattai?

The current guideline value of North Pattai is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 580% over the years.

What is the land classification for North Pattai?

North Pattai falls under the land classification of Residential Special Type - III.

Where can I find the registration office for North Pattai?

The registration office for North Pattai is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in North Pattai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,38,000.