Guideline Value for P.NAGAR & STREETS

P.Nagar & Streets guideline value

The current guideline value of P.Nagar & Streets in Sholinganallur - 1 village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of P.Nagar & Streets has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This reflects a significant increase to the current value of Rs 2,200 per sq.ft in the 2024 revision, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value increased, demonstrating a notable rise. The last recorded figure before the current value was in 2017, and there are no figures for the intervening years, indicating a gap in the revision history.

Guideline values in Sholinganallur - 1

Sholinganallur - 1 village has 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for P.Nagar & Streets.

• P.Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• P.Nagar 1st Avenue: Rs 2,200 per sq.ft (2024)
• Pilliyar Koil Steet (Akkarai): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street (Near Ponniyamman Koil Street/Bharathi Nagar): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,800 per sq.ft (2024)
• Ponniyamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in P.Nagar & Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, bringing the total to Rs 1,98,000. 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.Nagar & Streets?

The P.Nagar & Streets area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is an essential factor in the registration process when buying or selling property. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the government’s assessment. This helps in maintaining transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of P.Nagar & Streets?

The current guideline value of P.Nagar & Streets is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a change of +64%.

What is the classification of land in P.Nagar & Streets?

P.Nagar & Streets is classified as Residential Class II Type - III under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in P.Nagar & Streets?

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 rate would incur a stamp duty of Rs 1,54,000.