Guideline Value for PACHAIAPPAN 1ST STREET

Pachaiappan 1st Street guideline value

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

How the guideline value of Pachaiappan 1st Street has changed

The guideline value for Pachaiappan 1st Street has seen several revisions over the years. In 2002, the value was Rs 115 per sq.ft, which 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 jumped to Rs 2,000 per sq.ft in 2012, which was a remarkable rise of 186%. However, there was a decrease to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,813%. There are no figures available for any other revisions for this 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 value is Rs 3,300 per sq.ft, and Pachaiappan 1st Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 2nd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 3rd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 10th 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 1st 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiappan 1st Street?

The Sub Registrar Office covering Pachaiappan 1st 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 details.

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

When buying or selling property in Palavakkam, the guideline value is used to determine the official value of the property for registration purposes. This value is crucial as it helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

The guideline value ensures that the property is registered at a value that reflects the current market conditions, thus providing a standardized measure for all transactions within the locality. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Pachaiappan 1st Street?

The current guideline value of Pachaiappan 1st 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, showing an overall increase of 1,813% over the years.

What is the classification of land on Pachaiappan 1st Street?

Pachaiappan 1st Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

For a property 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.

Where is the Sub Registrar Office for Pachaiappan 1st Street located?

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