Guideline Value for PONDICHERY PATTAI

Pondichery Pattai guideline value

The current guideline value of Pondichery Pattai is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Pondichery Pattai has changed

The guideline value for Pondichery Pattai has undergone several revisions over the years. In the 2003 revision, the value was Rs 87 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 245%. The 2012 revision saw a further increase to Rs 2,000 per sq.ft, which was a substantial jump of 567%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The following revision in 2023 set the value at Rs 3,000 per sq.ft, an increase of 124% from the previous year. Finally, the 2024 revision raised the value to Rs 3,300 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 3,693%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Pondichery Pattai's 2024 figure above this median.

• Pondichery Pattai Road: Rs 3,300 per sq.ft (2024)
• Platinam Holdings: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Prasanna Garden: Rs 3,900 per sq.ft (2024)
• Pridivraj Garden: Rs 1,000 per sq.ft (2024)
• Prim Liberty Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pondichery Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pondichery Pattai?

The Sub Registrar Office that covers Pondichery Pattai is 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 Chemmancheri

The guideline value is a crucial factor in property transactions in Chemmancheri, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs associated with property transactions. Ensuring that the sale price is in line with the guideline value can help facilitate a smoother registration process.

Frequently asked questions

What is the current guideline value of Pondichery Pattai?

The current guideline value of Pondichery Pattai is Rs 3,300 per sq.ft, effective from 1 July 2024. This value is set by the Neelankarai SRO.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 87 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024. Notable changes include a rise of 567% from 2007 to 2012 and a 10% increase from 2023 to 2024.

What are the stamp duty and registration fees for properties in Pondichery Pattai?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

How many streets in Chemmancheri have a guideline value?

There are 195 streets in Chemmancheri under the Neelankarai SRO that have a guideline value for 2024. The values for these streets range from Rs 1,000 to Rs 6,600 per sq.ft.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles the registration of properties in the Pondichery Pattai area.