Guideline Value for PMD Nagar

PMD Nagar guideline value

The current guideline value of PMD Nagar is Rs 4,070 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village, under the Pallavaram SRO, and is classified as Mixed Type - I.

How the guideline value of PMD Nagar has changed

The guideline value for PMD Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 181 per sq.ft. In 2003, it increased to Rs 224 per sq.ft, marking a 24% rise. The value then surged significantly to Rs 1,666 per sq.ft in 2007, which represented a 644% increase. The 2012 revision saw a decrease, bringing the value back to Rs 3,700 per sq.ft, a drop of 33% from the previous figure. In 2017, it bounced back to Rs 2,479 per sq.ft, but this was not a figure recorded for this street. The 2023 revision set the value at Rs 3,700 per sq.ft, before the latest increase to Rs 4,070 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2,149%. The revisions for 2012 and 2017 do not have figures specifically recorded for this street.

Guideline values in Kovilambakkam

Kovilambakkam village has a range of guideline values across its 61 streets under the Pallavaram SRO. The 2024 figures range from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. PMD Nagar's 2024 guideline value of Rs 4,070 per sq.ft is above this median.

• Pillaiyar Koil 1 to 4 Streets: Rs 2,160 per sq.ft (2024)
• Periyar Salai: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam 1 to 6 Streets: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam: Rs 2,750 per sq.ft (2024)
• Palika Company Street: Rs 2,750 per sq.ft (2024)
• Palandiamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in PMD Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,070 per sq.ft, the total guideline value would be Rs 40,70,000. The stamp duty at 7% would be Rs 2,84,900, and the registration fee at 2% would be Rs 81,400, bringing the total fees to Rs 3,66,300. Please note that 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 information.

Which Sub Registrar Office covers PMD Nagar?

The Sub Registrar Office that covers PMD Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor when buying or selling property in Kovilambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value reflects the minimum price at which a property can be registered.

When a property is sold, the buyer must ensure that the sale price is equal to or higher than the guideline value. This ensures compliance with local regulations and helps in the accurate assessment of taxes due on the property transaction.

Frequently asked questions

What is the current guideline value of PMD Nagar?

The current guideline value of PMD Nagar is Rs 4,070 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 181 per sq.ft in 2002 to Rs 4,070 per sq.ft in 2024, marking a total increase of 2,149% over the years.

What is the stamp duty for property in PMD Nagar?

The stamp duty for property in PMD Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 40,70,000, the stamp duty would be Rs 2,84,900.

Where is the Sub Registrar Office for PMD Nagar located?

The Sub Registrar Office for PMD Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of PMD Nagar?

PMD Nagar is classified as Mixed Type - I, indicating a diverse use of land in the area.