Guideline Value for Pattammal Nagar

Pattammal Nagar guideline value

The current guideline value of Pattammal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village, under the Pammal Sub Registrar Office (SRO), and falls under the Residential Class IV Type - I land classification.

How the guideline value of Pattammal Nagar has changed

The guideline value for Pattammal Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which was then increased to Rs 1,500 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw a significant increase of 49%, and overall, from 2017 to 2024, it has risen by 64%. These changes reflect the adjustments made in the valuation of properties in the area.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value for Pattammal Nagar is below this median, indicating its position within the local real estate landscape.

• Perumal Koil Street (ward 4): Rs 2,200 per sq.ft (2024)
• Pallavaram Main Road (ward 6): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Padmavathi Nagar: Rs 2,750 per sq.ft (2024)
• Poomalai: Rs 3,300 per sq.ft (2024)
• Ottravadai Street (ward 7): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pattammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. In total, the fees would be Rs 1,48,500. 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 Pattammal Nagar?

The Pattammal Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the sale and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Pattammal Nagar?

The current guideline value of Pattammal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What are the other streets with guideline values in Kolapakkam?

Other streets in Kolapakkam include Perumal Koil Street, Pallavaram Main Road, and Pillaiyar Koil Street, all valued at Rs 2,200 per sq.ft in 2024. Padmavathi Nagar and Poomalai have higher values at Rs 2,750 and Rs 3,300 per sq.ft, respectively.

What is the stamp duty rate for properties in Pattammal Nagar?

The stamp duty rate for properties in Pattammal Nagar is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration of the property.

Where can I find the Sub Registrar Office for Pattammal Nagar?

The Sub Registrar Office covering Pattammal Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information through the relevant links.