Guideline Value for PACHAIAPPAN 5TH STREET

Pachaiappan 5th Street guideline value

The current guideline value of Pachaiappan 5th 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 it falls under the Residential Class IV Type - I land classification.

How the guideline value of Pachaiappan 5th Street has changed

The guideline value for Pachaiappan 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 115 per sq.ft, which increased significantly to Rs 339 per sq.ft in 2003. The value continued to rise, reaching Rs 700 per sq.ft in 2007, and then saw 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, and the latest revision in 2024 set it at Rs 2,200 per sq.ft.

From 2017 to 2023, the value increased by 49%. There was a significant decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 186%, and from 2003 to 2007, the increase was 106%. The value saw a remarkable rise of 195% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1813%. There are no figures for any other revisions for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of Pachaiappan 5th Street is below this median.

• Pachaiappan 4th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 6th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 3rd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 7th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 2nd Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 5th 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 5th Street?

The Sub Registrar Office that covers Pachaiappan 5th 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 during the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential to consider this value, as the duty is charged on the higher of the guideline value or the sale price, ensuring that all parties are aware of their financial obligations during the property transfer.

Frequently asked questions

What is the current guideline value of Pachaiappan 5th Street?

The current guideline value of Pachaiappan 5th 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 increased from Rs 115 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1813% over the years.

What is the land classification for Pachaiappan 5th Street?

Pachaiappan 5th Street falls under the Residential Class IV Type - I land classification.

What is the registration office for Pachaiappan 5th Street?

The Neelankarai Sub Registrar Office covers Pachaiappan 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Pachaiappan 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.