Guideline Value for Pattai Street

Pattai Street guideline value

The current guideline value of Pattai Street is Rs 3,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Pattai Street has changed

The guideline value for Pattai Street has seen significant changes over the years. In the 2007 revision, the value was Rs 450 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. The latest revision in 2023 saw the value rise to Rs 3,500 per sq.ft, and it further increased to Rs 3,750 per sq.ft in 2024, marking a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 733%. The register does not have figures for Pattai Street for the years 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value of Pattai Street is above this median.

• Pattel Street: Rs 1,300 per sq.ft (2024)
• Periyalwar Street: Rs 2,400 per sq.ft (2024)
• Park Street Selaiyur: Rs 1,600 per sq.ft (2024)
• Park Street Bharathiyar Nagar: Rs 1,600 per sq.ft (2024)
• Pandiyaraj Street: Rs 950 per sq.ft (2024)
• Peter Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Pattai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,750 per sq.ft, the total guideline value amounts to Rs 37,50,000. The stamp duty at 7% would be Rs 2,62,500, and the registration fee at 2% would be Rs 75,000, totaling Rs 3,37,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pattai Street?

The Sub Registrar Office covering Pattai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a critical factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately and fairly.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pattai Street?

The current guideline value of Pattai Street is Rs 3,750 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 450 per sq.ft in 2007 to Rs 3,750 per sq.ft in 2024, marking an overall increase of 733% over this period.

What is the land classification of Pattai Street?

Pattai Street is classified as Residential Special Type - III under the Selaiyur SRO.

What are the stamp duty and registration fees for property in Pattai Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 37,50,000. The stamp duty at 7% is Rs 2,62,500, and the registration fee at 2% is Rs 75,000, totaling Rs 3,37,500.

Which Sub Registrar Office covers Pattai Street?

The Selaiyur Sub Registrar Office covers Pattai Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.