Guideline Value for Pattabi Nagar

Pattabi Nagar guideline value

The current guideline value of Pattabi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Pattabi Nagar has changed

The guideline value of Pattabi Nagar has seen significant changes over the years. In 2017, the value was Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value to Rs 1,430 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a notable rise in the guideline value during that period.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. Pattabi Nagar's 2024 figure of Rs 1,430 per sq.ft is above this median.

• Periyar Street: Rs 880 per sq.ft (2024)
• Palayathamman Nagar: Rs 770 per sq.ft (2024)
• Palayakkara Street: Rs 880 per sq.ft (2024)
• Oli Mohammed Nagar: Rs 770 per sq.ft (2024)
• Primier Residency: Rs 2,140 per sq.ft (2024)
• Neo City: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Pattabi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total fees to Rs 1,28,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pattabi Nagar?

The Pattabi Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Manimangalam A. It determines the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value serves as a benchmark for calculating the fees. It is important for both parties to understand that the duty is charged on the higher of the guideline value or the sale price to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pattabi Nagar?

The current guideline value of Pattabi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and now to Rs 1,430 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the guideline values of other streets in Manimangalam A?

Other streets in Manimangalam A have varying guideline values, with rates ranging from Rs 550 to Rs 2,500 per sq.ft. For example, Periyar Street is valued at Rs 880 per sq.ft, while Primier Residency is valued at Rs 2,140 per sq.ft in 2024.

What fees are associated with property transactions in Pattabi Nagar?

When buying property in Pattabi Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For instance, a 1,000 sq.ft plot would incur total fees of Rs 1,28,700.

Where is the Sub Registrar Office for Pattabi Nagar located?

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