Guideline Value for Sri Patchaiyammal Nagar

Sri Patchaiyammal Nagar guideline value

The current guideline value of Sri Patchaiyammal Nagar is Rs 175 per sq.ft, effective from 1 July 2024. This area is located in Arayapakkam village and falls under the Madurandakam SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Sri Patchaiyammal Nagar has changed

The guideline value for Sri Patchaiyammal Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 60 per sq.ft. This increased significantly to Rs 175 per sq.ft in the 2012 revision, marking a 192% increase. However, it dropped to Rs 117 per sq.ft in the 2017 revision, a decrease of 33%. The value remained at Rs 175 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these years.

As for the earlier revisions, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 192%.

Guideline values in Arayapakkam

In Arayapakkam, there are 15 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 120 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 203 per sq.ft, placing Sri Patchaiyammal Nagar's 2024 figure below this median.

• Sri Sairam Nagar: Rs 120 per sq.ft (2024)
• Sri Krishna Nagar: Rs 203 per sq.ft (2024)
• Sri Vari Avenue: Rs 300 per sq.ft (2024)
• Swomiyam Nagar: Rs 201 per sq.ft (2024)
• Royal City Phase - II Ext: Rs 250 per sq.ft (2024)
• Royal City Phase - I Ext: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Patchaiyammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, totaling Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri Patchaiyammal Nagar?

Sri Patchaiyammal Nagar is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arayapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration of property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied based on the current rates. This process is essential for maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Patchaiyammal Nagar?

The current guideline value of Sri Patchaiyammal Nagar is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 175 per sq.ft in 2012, then decreased to Rs 117 per sq.ft in 2017. It has remained at Rs 175 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Patchaiyammal Nagar?

The land classification for Sri Patchaiyammal Nagar is Residential Special Type - II.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Sri Patchaiyammal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 1,75,000, leading to a stamp duty of Rs 12,250.