Guideline Value for PATTAMMAL NAGAR

Pattammal Nagar guideline value

The current guideline value of Pattammal Nagar is Rs 2,100 per sq.ft, effective from the 2024 revision. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Pattammal Nagar has changed

Over the years, the guideline value of Pattammal Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 700% rise. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,100 per sq.ft, reflecting a 5% increase from the previous year.

The changes between these revisions highlight the fluctuations in the guideline value. From 2017 to 2023, there was a significant increase of 49%. Overall, from the initial value in 2007 to the current value in 2024, the guideline value has increased by 740%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Pattammal Nagar's 2024 figure below this median.

• Pattaravakkam Service Road: Rs 2,900 per sq.ft (2024)
• Pasumpon Nagar /Streets/ Avenue: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar Extension: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar 1st Main Road: Rs 2,100 per sq.ft (2024)
• P.D.R Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pattammal Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Pattammal Nagar?

The Sub Registrar Office that covers Pattammal Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue through taxes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pattammal Nagar?

The current guideline value of Pattammal Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, marking an overall increase of 740%.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000 based on the current guideline value.

Which office handles registrations for Pattammal Nagar?

The Villivakkam Sub Registrar Office handles registrations for Pattammal Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Pattammal Nagar?

Pattammal Nagar is classified as Residential Class III Type - I according to the current land classification standards.