Guideline Value for PACHAIAPPAN 12TH STREET

Pachaiappan 12th Street guideline value

The current guideline value of Pachaiappan 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Pachaiappan 12th Street has changed

The guideline value for Pachaiappan 12th Street has seen several revisions over the years. The earliest recorded figure was Rs 115 per sq.ft in 2002, which increased significantly to Rs 339 per sq.ft in 2003, marking a change of +195%. By 2007, the value rose to Rs 700 per sq.ft, reflecting an increase of +106%. The next revision in 2012 saw the value at Rs 2,000 per sq.ft, which was a substantial jump of +186% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of -33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by the latest revision to Rs 2,200 per sq.ft in 2024, which is an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1813%. There are no figures available for the years not mentioned in the register for this particular street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value 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, placing Pachaiappan 12th Street's 2024 figure below that median.

• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 10th 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 12th 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, totaling Rs 1,98,000. Please 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 12th Street?

The Sub Registrar Office that covers Pachaiappan 12th 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 online for more information.

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

The guideline value is a crucial factor in property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for both buyers and sellers to be aware of the guideline value to ensure that they comply with legal requirements during the registration process. This value plays a significant role in establishing the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Pachaiappan 12th Street?

The current guideline value of Pachaiappan 12th 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 multiple times, starting from Rs 115 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1813% over the years.

What are the other streets in Palavakkam with the same guideline value?

Other streets in Palavakkam with a guideline value of Rs 2,200 per sq.ft in 2024 include Pachaiappan 11th Street, Pachaiappan 1st Street, Pachaiappan 10th Street, Pachaiappan 2nd Street, Pachaiappan 3rd Street, and Pachaiappan 4th Street.

What is the registration fee for property in Pachaiappan 12th Street?

The registration fee for property in Pachaiappan 12th Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for Pachaiappan 12th Street?

The Sub Registrar Office covering Pachaiappan 12th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.