Guideline Value for PANCHARATHNA FLATS

Pancharathna Flats guideline value

The current guideline value of Pancharathna Flats is Rs 8,200 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Pancharathna Flats has changed

The guideline value for Pancharathna Flats has seen several revisions over the years. In 2003, the guideline value was Rs 1,205 per sq.ft, which increased to Rs 1,650 per sq.ft in 2007, marking a significant rise of 37%. The value then surged to Rs 7,500 per sq.ft in 2012, reflecting a remarkable increase of 355%. However, it dropped to Rs 5,025 per sq.ft in 2017, showing a decrease of 33%. The next revision in 2023 set the value at Rs 7,500 per sq.ft, which then increased to Rs 8,200 per sq.ft in 2024, a rise of 9%.

Overall, from 2003 to 2024, the guideline value has risen by 580%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 3,800 per sq.ft, placing Pancharathna Flats above this median.

• Pandurangapuram: Rs 2,800 per sq.ft (2024)
• Pandurangapuram 6th Street: Rs 2,800 per sq.ft (2024)
• Park Road: Rs 9,700 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'AMMAN KOIL STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'ANNA 1ST STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pancharathna Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees together to Rs 7,38,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Pancharathna Flats?

The Pancharathna Flats are covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padi. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Pancharathna Flats?

The current guideline value for Pancharathna Flats is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,205 per sq.ft in 2003 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 580% over this period.

What are the stamp duty rates for properties in Padi?

The stamp duty rate for properties in Padi is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the registration office for Pancharathna Flats?

The registration office for Pancharathna Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, with Pancharathna Flats having a guideline value above this median at Rs 8,200 per sq.ft.