Guideline Value for PACHAIAPPAN NAGAR

Pachaiappan Nagar guideline value

The current guideline value of Pachaiappan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Koladi village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Pachaiappan Nagar has changed

The guideline value for Pachaiappan Nagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. It increased dramatically to Rs 1,500 per sq.ft in the 2012 revision, marking a 500% rise. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision, a decline of 33%. The value continued to rise, reaching Rs 1,500 per sq.ft in the 2023 revision, and further increased by 10% to Rs 1,650 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Pachaiappan Nagar's 2024 value above this median.

• Padmanabhan Nagar: Rs 1,100 per sq.ft (2024)
• Om Parasakthi Nagar: Rs 880 per sq.ft (2024)
• Pallavan Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value is Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Pachaiappan Nagar?

The Sub Registrar Office that covers Pachaiappan Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Koladi

The guideline value is an essential factor when buying or selling property in Koladi, as it determines the minimum value at which the property can be registered. It is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures that the sale price reflects the market conditions set by the local authorities. Buyers should be aware of the guideline value to ensure compliance with registration requirements and to understand the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Pachaiappan Nagar?

The current guideline value of Pachaiappan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the median guideline value for streets in Koladi?

The median guideline value for streets in Koladi is Rs 1,100 per sq.ft, with Pachaiappan Nagar's 2024 value being above this median.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Pachaiappan Nagar?

The Chennai South Joint II Sub Registrar Office handles property registrations for Pachaiappan Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.