Guideline Value for Paventhar Nagar Extension

Paventhar Nagar Extension guideline value

The current guideline value of Paventhar Nagar Extension is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Paventhar Nagar Extension has changed

The guideline value for Paventhar Nagar Extension has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 115 per sq.ft. This increased significantly to Rs 543 per sq.ft in 2007, marking a change of +372%. The value then rose to Rs 1,900 per sq.ft in 2012, reflecting an increase of +250%. However, it decreased to Rs 1,273 per sq.ft in 2017, a change of -33%. The guideline value then jumped to Rs 1,900 per sq.ft in 2023, and finally reached Rs 2,090 per sq.ft in 2024, representing a +10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by +1717%.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO, with a 2024 guideline value range from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the guideline value of Paventhar Nagar Extension.

• Paventher Nagar: Rs 3,520 per sq.ft (2024)
• Peria Pattu Street: Rs 3,520 per sq.ft (2024)
• Palla Street: Rs 2,090 per sq.ft (2024)
• Pillaiyar koil Street: Rs 2,090 per sq.ft (2024)
• Pada Salai Street: Rs 2,090 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Paventhar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total charges to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paventhar Nagar Extension?

The Sub Registrar Office that covers Paventhar Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, thereby helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Paventhar Nagar Extension?

The current guideline value of Paventhar Nagar Extension is Rs 2,090 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 115 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of +1717%.

What are the stamp duty and registration fees for properties in Paventhar Nagar Extension?

For a 1,000 sq.ft property, the total guideline value is Rs 20,90,000. The stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Paventhar Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for ensuring that the transaction is recorded at a fair value.