Guideline Value for PAMBAN BABA NAGAR

Pamban Baba Nagar guideline value

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

How the guideline value of Pamban Baba Nagar has changed

The guideline value for Pamban Baba Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, representing a 10% rise. Prior to that, the 2017 revision had established the value at Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision listed the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street, indicating that the values were not recorded during those revisions.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Pamban Baba Nagar's 2024 guideline value below this median.

• Palmera Garden: Rs 1,700 per sq.ft (2024)
• Pallavan Street: Rs 3,300 per sq.ft (2024)
• Panchayat Road: Rs 3,300 per sq.ft (2024)
• Pallavan Nagar & P.T.C.Quarters: Rs 3,900 per sq.ft (2024)
• Pandian Nagar: Rs 1,700 per sq.ft (2024)
• PALLAVAN KUDI IRUPPU VIA 2nd STREET 3rd STREET: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pamban Baba Nagar

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, bringing the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pamban Baba Nagar?

The Sub Registrar Office that covers Pamban Baba Nagar 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 details.

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

The guideline value serves as a benchmark for property transactions in Okkiyamthuraipakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the established rates.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall transaction costs. This value is crucial during the registration process, as it helps to formalize the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Pamban Baba Nagar?

The current guideline value of Pamban Baba Nagar 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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It rose from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, a 49% increase, but decreased from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, a decrease of 33%.

What is the registration fee for property in Pamban Baba Nagar?

The registration fee for property in Pamban Baba Nagar is calculated at 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

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 is the stamp duty calculated for properties in Pamban Baba Nagar?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price. For instance, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.