Guideline Value for PITCHAI MANI GARDEN

Pitchai Mani Garden guideline value

The current guideline value of Pitchai Mani Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. It is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Pitchai Mani Garden has changed

The guideline value for Pitchai Mani Garden has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and then it rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Pitchai Mani Garden.

• Pillyar Koil Street (Near Sbi Colony): Rs 3,300 per sq.ft (2024)
• Pilliyar Koil Street (Omr To Radial Road): Rs 4,400 per sq.ft (2024)
• Pilliyar Koil 1st Lane (Mettukuppam): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street & Road (Mettukuppam): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Radial Road To Seevaram): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Near Selvakumar Avenue): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pitchai Mani Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. Note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pitchai Mani Garden?

The Pitchai Mani Garden area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps in assessing the legal documentation required for the transaction. Buyers and sellers must be aware of the current guideline value to ensure that they comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Pitchai Mani Garden?

The current guideline value of Pitchai Mani Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Pitchai Mani Garden?

Pitchai Mani Garden is classified as Residential Class II Type - I under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Pitchai Mani Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 2,31,000.