Guideline Value for PACHAIAPPAN 11TH STREET

Pachaiappan 11th Street guideline value

The current guideline value of Pachaiappan 11th 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 falls under the Residential Class IV Type - I land classification.

How the guideline value of Pachaiappan 11th Street has changed

The guideline value for Pachaiappan 11th Street has seen significant changes over the years. In 2002, the guideline value was Rs 115 per sq.ft. This increased to Rs 339 per sq.ft in 2003, marking a rise of 195%. The value continued to increase, reaching Rs 700 per sq.ft in 2007, which was a 106% increase from the previous revision. By 2012, the value had risen to Rs 2,000 per sq.ft, reflecting a substantial increase of 186% from 2007. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the years not mentioned in the register for this street. The overall increase from 2002 to 2024 is an impressive 1,813%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Pachaiappan 11th Street is below this median.

• Pachaiappan 10th 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 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total to 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.

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

Which Sub Registrar Office covers Pachaiappan 11th Street?

The Sub Registrar Office that covers Pachaiappan 11th 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 is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during the transaction.

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

Frequently asked questions

What is the current guideline value of Pachaiappan 11th Street?

The current guideline value of Pachaiappan 11th 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 significantly, from Rs 115 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,813% over this period.

What are the stamp duty and registration fees for property in Pachaiappan 11th Street?

For a 1,000 sq.ft plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Pachaiappan 11th Street?

The Neelankarai Sub Registrar Office covers Pachaiappan 11th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Pachaiappan 11th Street?

Pachaiappan 11th Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.