Guideline Value for Kancheepuram Pachiyappan 1st lane

Kancheepuram Pachiyappan 1st lane guideline value

The current guideline value of Kancheepuram Pachiyappan 1st lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - III.

How the guideline value of Kancheepuram Pachiyappan 1st lane has changed

The guideline value for Kancheepuram Pachiyappan 1st lane has seen several revisions over the years. In 2003, the guideline value was Rs 663 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, there was a significant rise to Rs 4,000 per sq.ft in 2012, but it dropped to Rs 2,680 per sq.ft in 2017. The value then increased sharply to Rs 4,000 per sq.ft in 2023 and has now reached Rs 4,400 per sq.ft in 2024. The register has no figure for this street for the year 2002.

Between the revisions, the changes were as follows: from 2003 to 2007, there was an increase of 51%; from 2007 to 2012, the value rose by 300%; however, it decreased by 33% from 2012 to 2017. The value then saw a significant increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 564%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value among these streets is Rs 7,100 per sq.ft, placing Kancheepuram Pachiyappan 1st lane's 2024 figure below that median.

• Kancheepuram Pachiyappan 2nd lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Pachiyappan 3rd lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Pachiyappa Street: Rs 8,300 per sq.ft (2024)
• Kandan Street: Rs 7,100 per sq.ft (2024)
• Kanda Pillai street: Rs 7,100 per sq.ft (2024)
• Kareem MohideenSahib 1st lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kancheepuram Pachiyappan 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kancheepuram Pachiyappan 1st lane?

The Kancheepuram Pachiyappan 1st lane falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold or bought, the registration office uses the guideline value to calculate the applicable fees. Buyers should be aware that the duty is charged on either the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Kancheepuram Pachiyappan 1st lane?

The current guideline value of Kancheepuram Pachiyappan 1st lane is Rs 4,400 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 663 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 564% over the years.

What is the land classification for Kancheepuram Pachiyappan 1st lane?

Kancheepuram Pachiyappan 1st lane is classified as Residential Class III Type - III, indicating its suitability for residential purposes.

Where can I find the Periamet Sub Registrar Office?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Kancheepuram Pachiyappan 1st lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.