Guideline Value for Pattel Street

Pattel Street guideline value

The current guideline value of Pattel Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Pattel Street has changed

The guideline value for Pattel Street has seen several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 167%. However, the value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

The register does not contain figures for Pattel Street for the years 2002 and 2003. To summarize, the overall change from the 2007 revision to the 2024 revision is an increase of 189%.

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. The median value for these streets is Rs 2,200 per sq.ft, indicating that Pattel Street's 2024 guideline value is below this median.

• Pattai Street: Rs 3,750 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 Pattel Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pattel Street?

The Sub Registrar Office that covers Pattel 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. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Selaiyur. It serves as a basis for calculating the stamp duty and registration fees that are payable when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pattel Street?

The current guideline value of Pattel Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 189% over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Pattel Street?

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

What is the median guideline value in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current guideline value of Pattel Street.