Guideline Value for Pathragiri Nagar Extension

Pathragiri Nagar Extension guideline value

The current guideline value for Pathragiri Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Pathragiri Nagar Extension has changed

Over the years, the guideline value for Pathragiri Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which changed to Rs 1,206 per sq.ft in 2017. This marked a decrease of 20%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,900 per sq.ft, reflecting a change of 6% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 27%. This shows a notable fluctuation in the values over the years, with the current rate being the highest recorded in the recent revisions.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Pathragiri Nagar Extension's 2024 figure below this median.

• Pathragiri Nagar: Rs 1,900 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pallpannai Salai Cross Main Road: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai 2nd Cross Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pathragiri Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty, charged at 7%, would be Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pathragiri Nagar Extension?

The Sub Registrar Office that covers Pathragiri Nagar Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Selavoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value, which serves as a reference point for property transactions in the area.

It is essential for buyers and sellers to be aware of the current guideline value to ensure accurate calculations of the fees involved in property registration. This helps in understanding the financial implications of the transaction and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pathragiri Nagar Extension?

The current guideline value of Pathragiri Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with notable increases and decreases in between, including a 49% increase from 2017 to 2023.

What is the land classification for Pathragiri Nagar Extension?

The land classification for Pathragiri Nagar Extension is Residential Class III Type - I, which indicates the type of development permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000.