Guideline Value for PATTAMMAL STREET

Pattammal Street guideline value

The current guideline value of Pattammal Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class III Type - II.

How the guideline value of Pattammal Street has changed

The guideline value for Pattammal Street has undergone several revisions over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value saw a significant jump to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase. Following this, the value surged to Rs 8,500 per sq.ft in 2012, an increase of 452%. However, it then decreased to Rs 5,695 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 8,500 per sq.ft in 2023, and most recently, it has increased to Rs 9,300 per sq.ft in 2024, which is a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 967%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, making Pattammal Street’s 2024 figure above this median.

• Pattunool Karan Thottam 1st Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 2nd Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 3rd Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 4th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 5th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 6th Street: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pattammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, leading to a total of Rs 8,37,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pattammal Street?

The Sub Registrar Office that covers Pattammal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration norms and to calculate applicable duties and fees.

When a property is sold, the guideline value helps in assessing the stamp duty and registration fees that need to be paid. This ensures that both parties are aware of the financial implications involved in the transaction, as these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pattammal Street?

The current guideline value of Pattammal Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 872 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 967% over the years.

What is the classification of Pattammal Street?

Pattammal Street is classified as Residential Class III Type - II under the Mylapore SRO.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 8,37,000.