Guideline Value for Pakiya Nagar

Pakiya Nagar guideline value

The current guideline value of Pakiya Nagar, located in Katrampakkam village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Pakiya Nagar has changed

The guideline value for Pakiya Nagar has seen several revisions over the years. In the 2007 revision, the rate was Rs 130 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a significant rise of 131%. However, the value dropped to Rs 201 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose to Rs 300 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 is an increase of 131%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Katrampakkam

In Katrampakkam village, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, making Pakiya Nagar's current value of Rs 300 per sq.ft above the median.

• Pallavan Nagar: Rs 500 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• New Bank of India Colony: Rs 300 per sq.ft (2024)
• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Naari Kazhani Street: Rs 150 per sq.ft (2024)
• Quidemillath Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Pakiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pakiya Nagar?

The Sub Registrar Office that covers Pakiya Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Katrampakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pakiya Nagar?

The current guideline value of Pakiya Nagar is Rs 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 130 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification for Pakiya Nagar?

Pakiya Nagar falls under the Residential Class II Type - I land classification, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Pakiya Nagar?

The Sub Registrar Office for Pakiya Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated in Pakiya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 3,00,000 would incur a stamp duty of Rs 21,000 at 7%.