Guideline Value for Pappammal Nagar

Pappammal Nagar guideline value

The current guideline value of Pappammal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Pappammal Nagar has changed

The guideline value for Pappammal Nagar has undergone several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 167%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 sets the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Pappammal Nagar's current guideline value below this median.

• Panchayat Colony: Rs 1,320 per sq.ft (2024)
• Park Street: Rs 1,650 per sq.ft (2024)
• Palm Groove's Residency: Rs 8,250 per sq.ft (2024)
• Patel Nagar 1-st Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pappammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Pappammal Nagar?

The Sub Registrar Office that covers Pappammal Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The stamp duty and registration fees are calculated based on the higher of the two values, which helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Pappammal Nagar?

The current guideline value of Pappammal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees in Pappammal Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 1,98,000.

Which office handles property registrations in Pappammal Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Pappammal Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, ensuring that appropriate stamp duties and registration fees are collected. It is essential for maintaining transparency in property transactions.