Guideline Value for PATTABI NAGAR EXTENSION

Pattabi Nagar Extension guideline value

The current guideline value of Pattabi Nagar Extension is Rs 2,760 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Pattabi Nagar Extension has changed

There have been several revisions to the guideline value for Pattabi Nagar Extension over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 2,510 per sq.ft, which increased to Rs 2,760 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the previous years. The 2024 revision reflects a significant increase in the guideline value, aligning it above the median for Koladi village.

Guideline values in Koladi

In Koladi, 175 streets under the Chennai South Joint II SRO have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Pattabi Nagar Extension's guideline value of Rs 2,760 per sq.ft is above this median, indicating its relative value within the area.

• Pattabi Nagar: Rs 1,650 per sq.ft (2024)
• Periyakolladi Perumal Koil Street: Rs 660 per sq.ft (2024)
• Parasakthi Nagar Seshathri Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seethammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Papaiah Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Jeevarathinnammal Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Pattabi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,760 per sq.ft, the total guideline value amounts to Rs 27,60,000. The stamp duty at 7% would be Rs 1,93,200, and the registration fee at 2% would be Rs 55,200, making the total charges Rs 2,48,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Pattabi Nagar Extension?

Pattabi Nagar Extension is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Pattabi Nagar Extension?

The current guideline value of Pattabi Nagar Extension is Rs 2,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pattabi Nagar Extension has changed from Rs 2,510 per sq.ft in 2023 to Rs 2,760 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Pattabi Nagar Extension?

The land classification for Pattabi Nagar Extension is Residential Special Type - IV, indicating its designated use for residential purposes.

Where can I find the registration office for Pattabi Nagar Extension?

The registration office for Pattabi Nagar Extension is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Koladi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,60,000, the stamp duty at 7% would be Rs 1,93,200.