Guideline Value for PACHAIAPPAN 3RD STREET

Pachaiappan 3rd Street guideline value

The current guideline value of Pachaiappan 3rd 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 3rd Street has changed

The guideline value for Pachaiappan 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 115 per sq.ft, which increased to Rs 339 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, and then surged 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 rate of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Notably, the overall increase from 2002 to 2024 is a remarkable 1,813%.

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 for these streets is Rs 3,300 per sq.ft, placing Pachaiappan 3rd Street's 2024 figure below that median.

• Pachaiappan 2nd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 4th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 5th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 3rd 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 cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiappan 3rd Street?

The Sub Registrar Office that covers Pachaiappan 3rd 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 must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Pachaiappan 3rd Street?

The current guideline value of Pachaiappan 3rd 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, with various revisions reflecting both increases and decreases over the years.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft for the year 2024, which is higher than the current value of Pachaiappan 3rd Street.

What are the stamp duty and registration fees for property in Pachaiappan 3rd Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 based on the current guideline value.

Which office handles property registration for Pachaiappan 3rd Street?

The Neelankarai Sub Registrar Office handles property registration for Pachaiappan 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.