Guideline Value for PACHAIAPPAN 10TH STREET

Pachaiappan 10th Street guideline value

The current guideline value of Pachaiappan 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, and it falls under Residential Class IV Type - I land classification.

How the guideline value of Pachaiappan 10th Street has changed

The guideline value of Pachaiappan 10th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 115 per sq.ft. This increased to Rs 339 per sq.ft in 2003, marking a significant rise of 195%. Following this, the value continued to climb, reaching Rs 700 per sq.ft in 2007, an increase of 106%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 186% increase. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. From 2017 to 2023, the guideline value increased to Rs 2,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Therefore, the guideline values for Pachaiappan 10th Street are only recorded from 2002 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that the 2024 figure for Pachaiappan 10th Street is below this median.

• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 2nd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 3rd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiappan 10th Street?

The Sub Registrar Office that covers Pachaiappan 10th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pachaiappan 10th Street?

The current guideline value of Pachaiappan 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 115 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1813% over the years.

What is the registration office for Pachaiappan 10th Street?

The Neelankarai Sub Registrar Office covers Pachaiappan 10th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Pachaiappan 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.

What are the guideline values of other streets in Palavakkam?

Other streets in Palavakkam, such as Pachaiappan 11th, 12th, 1st, 2nd, 3rd, and 4th Streets, also have a guideline value of Rs 2,200 per sq.ft for 2024, similar to Pachaiappan 10th Street.