Guideline Value for PACHAIYAPPAN STREET

Pachaiyappan Street guideline value

The current guideline value of Pachaiyappan Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Residential Class I Type - I.

How the guideline value of Pachaiyappan Street has changed

The guideline value for Pachaiyappan Street has undergone several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft. From 2017 to 2023, it rose to Rs 1,000 per sq.ft, and the current 2024 revision maintains this value, showing no change from the previous year.

In summary, from the 2007 revision to the 2024 revision, the overall increase in guideline value is 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, placing Pachaiyappan Street at the median level for 2024.

• Ondikuppam Poonamalle Salai 4 Adi Sandhu: Rs 2,000 per sq.ft (2024)
• Pajanai Koil Street: Rs 1,000 per sq.ft (2024)
• N.S.K. Street: Rs 700 per sq.ft (2024)
• Pallavan Street: Rs 1,300 per sq.ft (2024)
• Pandian Street: Rs 1,300 per sq.ft (2024)
• Pandian Street (Ramasamy Nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pachaiyappan Street?

The Sub Registrar Office that covers Pachaiyappan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated fairly based on the property's value.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are essential for completing the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Pachaiyappan Street?

The current guideline value of Pachaiyappan Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 700% over this period.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which is the same as the guideline value for Pachaiyappan Street in 2024.

Where is the Sub Registrar Office for Pachaiyappan Street located?

The Sub Registrar Office for Pachaiyappan Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Pachaiyappan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at the rate of 7%.