Guideline Value for Pattaraivakkam Road

Pattaraivakkam Road guideline value

The current guideline value of Pattaraivakkam Road in Mannurpet village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - I.

How the guideline value of Pattaraivakkam Road has changed

The guideline value for Pattaraivakkam Road has seen several revisions over the years. In the 2002 revision, the value was Rs 350 per sq.ft, which increased to Rs 385 per sq.ft in 2003, marking a 10% rise. The value further increased significantly to Rs 800 per sq.ft in 2007, reflecting a 108% change. In 2012, the guideline value was Rs 1,600 per sq.ft, which was a 100% increase from the previous revision. However, this was followed by a decrease to Rs 1,072 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value climbed to Rs 1,600 per sq.ft, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, a 6% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 386%.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value is Rs 1,300 per sq.ft, and Pattaraivakkam Road's 2024 figure is above this median.

• Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,700 per sq.ft (2024)
• Padasalai Street: Rs 1,100 per sq.ft (2024)
• Pudu Pillaiyar Koil Street: Rs 1,700 per sq.ft (2024)
• Nehru Nagar: Rs 1,300 per sq.ft (2024)
• Mugapper Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pattaraivakkam Road

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. 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 Pattaraivakkam Road?

The Pattaraivakkam Road is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mannurpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to note that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Pattaraivakkam Road?

The current guideline value of Pattaraivakkam Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 350 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 386% over this period.

Where can I find the registration office for properties on Pattaraivakkam Road?

The registration office for properties on Pattaraivakkam Road is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty and registration fees for a property in Pattaraivakkam Road?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as the minimum value for property registration in the area.