Guideline Value for PACHAIAPPAN 4TH STREET

Pachaiappan 4th Street guideline value

The current guideline value of Pachaiappan 4th 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 is classified as Residential Class IV Type - I.

How the guideline value of Pachaiappan 4th Street has changed

The guideline value for Pachaiappan 4th Street has seen significant changes over the years. The earliest recorded value in the register is from 2002, at Rs 115 per sq.ft. This value increased to Rs 339 per sq.ft in 2003, marking a change of +195%. The guideline value then rose to Rs 700 per sq.ft in 2007, an increase of +106%. In 2012, the value reached Rs 2,000 per sq.ft, reflecting a substantial rise of +186% from the previous revision. However, it saw a decrease of -33% to Rs 1,340 per sq.ft in 2017. The value increased again to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a change of +10% from the previous year.

There are no figures available for the revisions in years not listed in the register. The overall change from 2002 to 2024 shows an increase of +1813% in the guideline value for Pachaiappan 4th Street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have 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 4th Street's 2024 figure below this median.

• 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)
• Pachaiappan 5th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 6th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 4th Street

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. It's important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiappan 4th Street?

The Sub Registrar Office that covers Pachaiappan 4th 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 critical factor when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on this guideline value or the actual sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Pachaiappan 4th Street?

The current guideline value of Pachaiappan 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much 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 +1813%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Pachaiappan 4th Street?

The Neelankarai Sub Registrar Office handles property registrations for Pachaiappan 4th 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 4th Street?

Pachaiappan 4th Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.