Guideline Value for Patavattamman koil street

Patavattamman koil street guideline value

The current guideline value of Patavattamman koil street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Patavattamman koil street has changed

Over the years, the guideline value of Patavattamman koil street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 400%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Patavattamman koil street.

• Pattammal nagar: Rs 2,200 per sq.ft (2024)
• Paniyatham nagar: Rs 2,200 per sq.ft (2024)
• Panisuvarar street: Rs 4,950 per sq.ft (2024)
• Pandara street: Rs 2,200 per sq.ft (2024)
• Palli street: Rs 2,200 per sq.ft (2024)
• Pali Mohandoss Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Patavattamman koil street

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, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Patavattamman koil street?

The Sub Registrar Office that covers Patavattamman koil street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Patavattamman koil street?

The current guideline value of Patavattamman koil street 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 increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification of Patavattamman koil street?

Patavattamman koil street is classified as Residential Class II Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for properties in Patavattamman koil street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.