Guideline Value for PACHAIAPPAN STREET

Pachaiappan Street guideline value

The current guideline value of Pachaiappan Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the jurisdiction of the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pachaiappan Street has changed

The guideline value for Pachaiappan Street has seen several revisions over the years. In 2002, the value was Rs 454 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 950 per sq.ft in 2007, reflecting an increase of 90%. In 2012, the value was Rs 4,600 per sq.ft, which was a substantial jump of 384%. However, it decreased to Rs 3,082 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 4,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1001%. There are no figures available for the years between these revisions, as the register has no figure for this street in those years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Pachaiappan Street's 2024 figure below that median.

• Padavattamman Koil Street: Rs 6,000 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• N.S.K. Nagar Main Road: Rs 7,100 per sq.ft (2024)
• N.S.K. Nagar 9 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 8 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 7 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiappan Street?

The Sub Registrar Office that covers Pachaiappan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pachaiappan Street?

The current guideline value of Pachaiappan Street is Rs 5,000 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 454 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1001% over the years.

What is the registration fee for properties in Pachaiappan Street?

The registration fee for properties in Pachaiappan Street is 2% of the guideline value. For example, a property valued at Rs 50,00,000 would incur a registration fee of Rs 1,00,000.

Where can I find the Sub Registrar Office for Pachaiappan Street?

The Kodambakkam Sub Registrar Office covers Pachaiappan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Arumbakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.