Guideline Value for PACHAIAPPAN 9TH STREET

Pachaiappan 9th Street guideline value

The current guideline value of Pachaiappan 9th 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 9th Street has changed

The guideline value for Pachaiappan 9th Street has seen several revisions 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 that, the value rose significantly to Rs 700 per sq.ft in 2007, and then 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 finally reached Rs 2,200 per sq.ft in 2024.

Between the revisions, notable changes occurred. From 2017 to 2023, there was a significant increase of 49%. The value dropped by 33% from 2012 to 2017. A remarkable rise of 186% was observed from 2007 to 2012, and from 2003 to 2007, the increase was 106%. The most substantial increase occurred from 2002 to 2024, with an overall rise of 1,813%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Pachaiappan 9th Street's 2024 figure below that median.

• Pachaiappan 8th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 7th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 6th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 5th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 4th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan 9th 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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be 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 9th Street?

The Sub Registrar Office that covers Pachaiappan 9th 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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing rates in the area.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process is essential for legal ownership transfer and is mandated by the registration authorities.

Frequently asked questions

What is the current guideline value of Pachaiappan 9th Street?

The current guideline value of Pachaiappan 9th 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 in between.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, and Pachaiappan 9th Street's 2024 value is below this median.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pachaiappan 9th 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.