Guideline Value for Pattunool Chandur Street

Pattunool Chandur Street guideline value

The current guideline value of Pattunool Chandur Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Pattunool Chandur Street has changed

Over the years, the guideline value of Pattunool Chandur Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft. This increased dramatically to Rs 8,000 per sq.ft in the 2012 revision, marking a substantial rise of 700%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, reflecting a drop of 33%. The 2023 revision brought the value back up to Rs 8,000 per sq.ft, and the most recent 2024 revision set it at Rs 8,800 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision shows an increase of 780%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, placing Pattunool Chandur Street's 2024 figure above that median.

• Parvathi Kakkan Colony (Mudaliar Thottam): Rs 4,400 per sq.ft (2024)
• Parthasarathy Pillai Street: Rs 4,800 per sq.ft (2024)
• Parthasarathy Naidu Street: Rs 4,800 per sq.ft (2024)
• Parthasarathy Naidu New street: Rs 4,800 per sq.ft (2024)
• Periyanna Maistry street: Rs 9,900 per sq.ft (2024)
• Periyar nagar (Gray Nagar pallam): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pattunool Chandur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. It is important to note that the 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 Pattunool Chandur Street?

The Sub Registrar Office that covers Pattunool Chandur Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Vepery. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to consult the guideline value to ensure compliance with local regulations. This value is regularly updated, reflecting changes in the market and land classification, which can affect the overall cost of property transactions.

Frequently asked questions

What is the current guideline value of Pattunool Chandur Street?

The current guideline value of Pattunool Chandur Street is Rs 8,800 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 1,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 780% over the years.

What is the land classification for Pattunool Chandur Street?

Pattunool Chandur Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Which office handles property registrations for this street?

The Periamet Sub Registrar Office handles property registrations for Pattunool Chandur Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What are the stamp duty and registration fees for properties in Pattunool Chandur Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 7,92,000.