Guideline Value for Preethivpakkam Extension and Streets

Preethivpakkam Extension and Streets guideline value

The current guideline value for Preethivpakkam Extension and Streets is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under Pattravakkam village and is classified as Residential Class II Type - I. The relevant registration office is the Konnur Sub Registrar Office.

How the guideline value of Preethivpakkam Extension and Streets has changed

The guideline value for Preethivpakkam Extension and Streets has seen several revisions over the years. The earliest recorded value was Rs 400 per sq.ft in 2007, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a 250% rise. However, this value decreased to Rs 938 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,500 per sq.ft from the 2024 revision, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft, with a median value of Rs 1,500 per sq.ft. Preethivpakkam Extension and Streets' 2024 figure matches this median value.

• Periyar Salai: Rs 2,200 per sq.ft (2024)
• Ravindharan Nagar: Rs 1,500 per sq.ft (2024)
• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)
• Naresh Nagar: Rs 1,500 per sq.ft (2024)
• Selva Nagar: Rs 1,500 per sq.ft (2024)
• Shrinivasa Nagar (A) Jeyanthi Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Preethivpakkam Extension and Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Preethivpakkam Extension and Streets?

The Sub Registrar Office covering Preethivpakkam Extension and Streets is the Konnur Sub Registrar Office, located at 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 Pattravakkam

The guideline value is a crucial factor when buying or selling property in Pattravakkam. It serves as a benchmark for determining the stamp duty and registration fees during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value for Preethivpakkam Extension and Streets?

The current guideline value for Preethivpakkam Extension and Streets is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 275% over the years.

What is the registration office for this area?

The registration office for Preethivpakkam Extension and Streets is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee Rs 30,000.

What other streets have guideline values in Pattravakkam?

Other streets in Pattravakkam include Periyar Salai at Rs 2,200 per sq.ft, Ravindharan Nagar and Naresh Nagar at Rs 1,500 per sq.ft, and Samondeeswari Nagar at Rs 1,100 per sq.ft, among others.