Guideline Value for P.NAGAR 1ST STREET

P.Nagar 1st Street guideline value

The current guideline value of P.Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of P.Nagar 1st Street has changed

Over the years, the guideline value of P.Nagar 1st Street has seen significant changes. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for P.Nagar 1st Street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of P.Nagar 1st Street.

• P.Nagar 1st Avenue: Rs 2,200 per sq.ft (2024)
• P.Nagar & Streets: 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 1st Street

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 cost to 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.Nagar 1st Street?

The Sub Registrar Office that covers P.Nagar 1st Street is 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 a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of P.Nagar 1st Street?

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

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64%.

What is the land classification for P.Nagar 1st Street?

P.Nagar 1st Street is classified as Residential Class II Type - III, indicating its use for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same amount. For instance, for a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.