Guideline Value for PathimaNagar

PathimaNagar guideline value

The current guideline value of PathimaNagar, located in Nandambakkam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of PathimaNagar has changed

The guideline value for PathimaNagar has seen significant changes over the years. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased dramatically to Rs 700 per sq.ft in 2012, marking a rise of 1,300%. However, in 2017, the value adjusted downwards to Rs 469 per sq.ft, a decrease of 33%. The value then rose again to Rs 700 per sq.ft in 2023, and most recently, it has reached Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,440%. The changes between the revisions highlight the fluctuations in property values in PathimaNagar, with the most recent figure indicating a steady increase in the guideline value.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of PathimaNagar is below this median, indicating its relative positioning within the village. Below are other streets in Nandambakkam with their respective guideline values:

• Periya Colony: Rs 770 per sq.ft (2024)
• Pari Nagar: Rs 990 per sq.ft (2024)
• Periyar Nagar: Rs 990 per sq.ft (2024)
• Periyar Nagar Extension, Pillaiyar Koil Street: Rs 990 per sq.ft (2024)
• Panjatcharam Nagar: Rs 990 per sq.ft (2024)
• P.T.C.Colony: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in PathimaNagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, these fees amount to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PathimaNagar?

The Sub Registrar Office that covers PathimaNagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandambakkam. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value helps maintain transparency in property dealings. It provides a standardized measure for property values in the area, assisting both buyers and sellers in making informed decisions during the registration process. This ensures that all parties are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of PathimaNagar?

The current guideline value of PathimaNagar is Rs 770 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 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 1,440% over the years.

What are the stamp duty and registration fees in PathimaNagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers PathimaNagar?

The Padappai Sub Registrar Office covers PathimaNagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of PathimaNagar?

PathimaNagar is classified as Residential Class II Type - I, indicating its designation for residential use within the area.