Guideline Value for P.D.R NAGAR

P.D.R Nagar guideline value

The current guideline value of P.D.R Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of P.D.R Nagar has changed

The guideline value of P.D.R Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking an increase of 900%. The figure remained the same at Rs 2,500 per sq.ft until the 2023 revision, when it rose to Rs 2,500 per sq.ft. There are no figures available for the years 2017, 2003, and 2002 for this street.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and in the 2024 revision, it increased by 8% to Rs 2,700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 980%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing P.D.R Nagar's 2024 figure above that median.

• Pattaravakkam Service Road: Rs 2,900 per sq.ft (2024)
• Pattammal Nagar: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar /Streets/ Avenue: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar Extension: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar 1st Main Road: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in P.D.R Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.D.R Nagar?

The Sub Registrar Office that covers P.D.R Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Korattur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be informed about the current guideline value, as it directly affects the costs associated with property transactions. Understanding the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of P.D.R Nagar?

The current guideline value of P.D.R Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking a total increase of 980% over the years.

What is the land classification for P.D.R Nagar?

P.D.R Nagar is classified as Residential Class I Type - III, indicating its designation for residential use.

Where is the Sub Registrar Office for P.D.R Nagar located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for property in P.D.R Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,43,000.