Guideline Value for PATTABI NAGAR

Pattabi Nagar guideline value

The current guideline value of Pattabi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Pattabi Nagar has changed

The guideline value for Pattabi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. 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.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Pattabi Nagar's 2024 value above that median.

• Pattabi Nagar Extension: Rs 2,760 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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Pattabi Nagar?

Pattabi Nagar 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 is a crucial figure used during the registration of property transactions in Koladi. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps to establish a fair transaction value and is essential for legal documentation during the registration process.

Frequently asked questions

What is the current guideline value of Pattabi Nagar?

The current guideline value of Pattabi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. It was previously Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Pattabi Nagar?

Pattabi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Pattabi Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Pattabi Nagar?

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