Guideline Value for PACHAIAPPAN STREET

Pachaiappan Street guideline value

The current guideline value of Pachaiappan 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 Street has changed

The guideline value for Pachaiappan Street has seen significant changes over the years. In 2002, the value was Rs 115 per sq.ft, which increased to Rs 339 per sq.ft in 2003. The value continued to rise, reaching Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value saw an increase again, reaching Rs 2,000 per sq.ft in 2023, and finally rising to Rs 2,200 per sq.ft in 2024.

From 2023 to 2024, the guideline value increased by 10%. The increase from 2017 to 2023 was 49%, while the value dropped by 33% from 2012 to 2017. The rise from 2007 to 2012 was 186%, and from 2003 to 2007, it increased by 106%. The value saw a significant rise of 195% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1813%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with 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 Street is below this median.

• Pachaiappan 9th Street: Rs 2,200 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Pachaiappan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to 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, totaling Rs 1,98,000. 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 Street?

The Sub Registrar Office that covers Pachaiappan 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 is an essential factor during property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pachaiappan Street?

The current guideline value of Pachaiappan 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, reflecting an overall increase of 1813% over this period.

What is the land classification for Pachaiappan Street?

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

What are the other streets in Palavakkam with the same guideline value?

Other streets in Palavakkam with a guideline value of Rs 2,200 per sq.ft for 2024 include Pachaiappan 9th Street, 8th Street, 7th Street, 6th Street, 5th Street, and 4th Street.

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

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