Guideline Value for Kancheepuram Pachiyappan 3rd lane

Kancheepuram Pachiyappan 3rd lane guideline value

The current guideline value of Kancheepuram Pachiyappan 3rd lane is Rs 4,400 per sq.ft. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and is classified as Residential Class III Type - III.

How the guideline value of Kancheepuram Pachiyappan 3rd lane has changed

The guideline value for Kancheepuram Pachiyappan 3rd lane has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 663 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, followed by a significant jump to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft effective from 1 July 2024.

Between the revisions, the changes were notable. From 2003 to 2007, the value increased by 51%, and then surged by 300% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 564% from 2003 to 2024.

Guideline values in Egmore

In Egmore, 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 guideline value for these streets is Rs 7,100 per sq.ft, placing Kancheepuram Pachiyappan 3rd lane's current value below the median.

• Kancheepuram Pachiyappan 2nd lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Pachiyappa Street: Rs 8,300 per sq.ft (2024)
• Kancheepuram Pachiyappan 1st lane: Rs 4,400 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 3rd lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. It is important to note that 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 Kancheepuram Pachiyappan 3rd lane?

The Kancheepuram Pachiyappan 3rd lane falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's worth.

When buying or selling a property, the guideline value serves as a benchmark for both buyers and sellers. It is essential to be aware of this value to avoid any discrepancies during the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kancheepuram Pachiyappan 3rd lane?

The current guideline value of Kancheepuram Pachiyappan 3rd 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, reflecting an overall increase of 564% over this period.

What is the registration office for Kancheepuram Pachiyappan 3rd lane?

The registration office covering Kancheepuram Pachiyappan 3rd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in this area?

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

What is the land classification for Kancheepuram Pachiyappan 3rd lane?

Kancheepuram Pachiyappan 3rd lane is classified as Residential Class III Type - III, indicating its designation for residential use.