Guideline Value for Pavithra Nagar

Pavithra Nagar guideline value

The current guideline value of Pavithra Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Pavithra Nagar has changed

The guideline value for Pavithra Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a 189% rise. However, it then fell to Rs 871 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, followed by a further increase to the current value of Rs 1,430 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 218%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for the area is Rs 1,540 per sq.ft, making Pavithra Nagar's current value below that median.

• Parvathi Nagar: Rs 1,430 per sq.ft (2024)
• Periyar Nagar: Rs 1,540 per sq.ft (2024)
• Periyar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Pallavan Nagar: Rs 1,320 per sq.ft (2024)
• Poonamallee Pipas Road: Rs 4,620 per sq.ft (2024)
• Prethiv Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Pavithra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty, charged at 7%, would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pavithra Nagar?

The Sub Registrar Office that covers Pavithra Nagar 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 Chennerkuppam

The guideline value is a critical factor in property transactions in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees payable. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pavithra Nagar?

The current guideline value of Pavithra Nagar is Rs 1,430 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 450 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 218% over the years.

What is the land classification for Pavithra Nagar?

Pavithra Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property in Pavithra Nagar?

The stamp duty for property in Pavithra Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Pavithra Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.