Guideline Value for Pathari Road

Pathari Road guideline value

The current guideline value of Pathari Road is Rs 20,900 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Pathari Road has changed

Over the years, the guideline value of Pathari Road has seen significant changes. In the 2007 revision, the value was Rs 5,590 per sq.ft, which increased dramatically to Rs 19,000 per sq.ft in 2012, marking a rise of 240%. However, from 2012 to 2017, the value decreased to Rs 12,730 per sq.ft, a drop of 33%. The value then rose again to Rs 19,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 20,900 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 274%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Pathari Road's 2024 figure above that median.

• Park Sight Street: Rs 7,700 per sq.ft (2024)
• Panakara Thiruveedhiyan St: Rs 9,300 per sq.ft (2024)
• Panakara Arogyam Street: Rs 9,300 per sq.ft (2024)
• Perumal Mudali Lane: Rs 7,700 per sq.ft (2024)
• Perumal Mudali Street (Extention): Rs 7,700 per sq.ft (2024)
• Ponmnangipuram 2nd Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pathari Road

For a 1,000 sq.ft plot at the current guideline value of Rs 20,900 per sq.ft, the total guideline value would be Rs 2,09,00,000. The stamp duty at 7% would amount to Rs 14,63,000, and the registration fee at 2% would be Rs 4,18,000. Together, these fees would total Rs 18,81,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pathari Road?

The Sub Registrar Office that covers Pathari Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, it is essential to be aware of the guideline value, as it ensures that the transaction is recorded accurately and complies with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pathari Road?

The current guideline value of Pathari Road is Rs 20,900 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 5,590 per sq.ft in 2007 to Rs 20,900 per sq.ft in 2024, reflecting an overall increase of 274%.

What is the land classification for Pathari Road?

Pathari Road is classified as Commercial Special Type - II, which influences its guideline value.

What is the stamp duty rate in Chennai?

The stamp duty rate in Chennai is 7%, which is applied to the higher of the guideline value or the sale price during property registration.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.