Guideline Value for Patel Nagar 1-st Street

Patel Nagar 1-st Street guideline value

The current guideline value of Patel Nagar 1-st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Patel Nagar 1-st Street has changed

The guideline value for Patel Nagar 1-st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 increased it to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 633%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that have 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 Patel Nagar 1-st Street's 2024 figure above this median.

• Patel Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Park Street: Rs 1,650 per sq.ft (2024)
• Pappammal Nagar: Rs 2,200 per sq.ft (2024)
• Panchayat Colony: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Patel Nagar 1-st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Patel Nagar 1-st Street?

The Sub Registrar Office that covers Patel Nagar 1-st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Tambaram. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the registration process.

When a property is sold, the guideline value is used to determine the official value for taxation purposes. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are paid during registration.

Frequently asked questions

What is the current guideline value of Patel Nagar 1-st Street?

The current guideline value of Patel Nagar 1-st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What is the land classification for Patel Nagar 1-st Street?

Patel Nagar 1-st Street is classified as Residential Special Type - II, which indicates the type of land use permitted in this area.

Where can I find the Tambaram Joint 1 SRO?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Tambaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.