Guideline Value for Pakkiathammal Nagar

Pakkiathammal Nagar guideline value

The current guideline value of Pakkiathammal Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Pakkiathammal Nagar has changed

The guideline value for Pakkiathammal Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 472 per sq.ft. This increased to Rs 519 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 1,500 per sq.ft, reflecting a substantial increase of 189%. The 2012 revision saw the value at Rs 6,500 per sq.ft, which was a 333% increase from the previous figure. However, it dropped back to Rs 4,355 per sq.ft in 2017, a decrease of 33%.

In 2023, the guideline value rose again to Rs 6,500 per sq.ft, and further increased to the current rate of Rs 7,100 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,404%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Pakkiathammal Nagar.

• Pakkiathammal Nagar 2rd Corss Street & 3rd Cross Street: Rs 7,100 per sq.ft (2024)
• Palani Street, Rajaji Nagar: Rs 5,500 per sq.ft (2024)
• Oori Salai (Mugappair East Block 10): Rs 7,100 per sq.ft (2024)
• Panjamuga Sivan Koil Street: Rs 7,100 per sq.ft (2024)
• Olimbic Colony: Rs 7,100 per sq.ft (2024)
• Panneer Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pakkiathammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. 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 details.

Which Sub Registrar Office covers Pakkiathammal Nagar?

The Sub Registrar Office that covers Pakkiathammal Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

When buying or selling property in Mugappair, the guideline value plays a crucial role during the registration process. It is the value set by the government for the purpose of calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

Both buyers and sellers must be aware that the guideline value is used to determine the minimum price at which a property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Pakkiathammal Nagar?

The current guideline value of Pakkiathammal Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 472 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 1,404%.

What is the land classification for Pakkiathammal Nagar?

The land classification for Pakkiathammal Nagar is Residential Special Type - I.

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

The Sub Registrar Office for Pakkiathammal Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated in Pakkiathammal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 71,00,000, the stamp duty at 7% would be Rs 4,97,000.