Guideline Value for PLATINUM CITY

Platinum City guideline value

The current guideline value of Platinum City, located in Kovilpathagai village under the Ambattur SRO, is Rs 2,900 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Platinum City has changed

The guideline value for Platinum City has seen significant changes over the years. The 2017 revision set the value at Rs 1,800 per sq.ft, which was then revised to Rs 2,687 per sq.ft in 2023. The latest revision in 2024 has increased this value to Rs 2,900 per sq.ft, marking an 8% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 61%.

In the years prior to 2017, the register has no figure for the revisions in 2002, 2003, 2007, and 2012. The substantial increase from 2017 to 2023 was 49%, reflecting a notable rise in the guideline value during that period.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this village is Rs 870 per sq.ft, placing Platinum City's 2024 figure above that median.

• Pilliyar Koil st. (Kannada palayam): Rs 807 per sq.ft (2024)
• Pilliyar Chothry Street (Kannada Paalayam): Rs 807 per sq.ft (2024)
• Pompozhil Nagar Ananthavinayagar Koil Street: Rs 1,200 per sq.ft (2024)
• Pompozhil Nager Alli Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Anna Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Bhavani Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Platinum City

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, leading to a total of Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Platinum City?

The Sub Registrar Office that covers Platinum City is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is bought or sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the registration process is aligned with the established values set by the registration department.

Frequently asked questions

What is the current guideline value of Platinum City?

The current guideline value of Platinum City is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,800 per sq.ft to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 61%.

What is the land classification of Platinum City?

The land classification for Platinum City is Commercial Class I Type - II.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai have varying guideline values, with rates ranging from Rs 803 to Rs 1,200 per sq.ft as of 2024.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.