Guideline Value for PACHAIAPPAN 2NDSTREET

Pachaiappan 2ndstreet guideline value

The current guideline value of Pachaiappan 2ndstreet 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 2ndstreet has changed

The guideline value for Pachaiappan 2ndstreet 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. The value rose significantly to Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023 before reaching the current figure of Rs 2,200 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. The most significant change occurred between 2007 and 2012, with a 186% rise, and from 2002 to 2024, the overall increase is 1813%. The register has no figure for this street in the years not mentioned.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Pachaiappan 2ndstreet's 2024 figure below that median.

• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 3rd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 4th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 2ndstreet

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiappan 2ndstreet?

The Sub Registrar Office that covers Pachaiappan 2ndstreet 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 an essential factor when buying or selling property in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers must be aware that the duty is charged based on the higher of the guideline value or the sale price.

Understanding the guideline value helps in ensuring compliance with local regulations and can assist in budgeting for the total costs involved in property transactions. It is advisable for buyers and sellers to consult the latest guideline values to make informed decisions.

Frequently asked questions

What is the current guideline value of Pachaiappan 2ndstreet?

The current guideline value of Pachaiappan 2ndstreet 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 several times, starting from Rs 115 per sq.ft in 2002 to the current value of Rs 2,200 per sq.ft in 2024. The most significant increase occurred from 2002 to 2024, with an overall rise of 1813%.

What are the stamp duty and registration fees for property in Pachaiappan 2ndstreet?

For a 1,000 sq.ft plot, the total guideline value would be 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 2ndstreet?

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

How does the guideline value affect property transactions?

The guideline value is crucial in determining the stamp duty and registration fees during property transactions. It ensures that buyers and sellers are aware of the costs involved and comply with local regulations.