Guideline Value for PACHIAMMAN NAGAR

Pachiamman Nagar guideline value

The current guideline value of Pachiamman Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Karanodai village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Pachiamman Nagar has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased to Rs 1,100 per sq.ft in the 2012 revision, marking an increase of 83%. However, in the 2017 revision, the value decreased to Rs 737 per sq.ft, which is a reduction of 33%. The 2023 revision saw a significant increase to Rs 1,100 per sq.ft, and the latest 2024 revision has raised it to Rs 1,210 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 102%. The revisions from 2002 and 2003 do not have figures recorded for this street in the register.

Guideline values in Karanodai

Karanodai village has 38 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,210 per sq.ft, which is equal to the current value of Pachiamman Nagar.

• Om Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Parvathi Nagar: Rs 1,210 per sq.ft (2024)
• Munivel Nagar: Rs 1,210 per sq.ft (2024)
• Rukmani Ammal Nagar: Rs 1,650 per sq.ft (2024)
• Sakthi Avenue: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pachiamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachiamman Nagar?

The Sub Registrar Office that covers Pachiamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will use the guideline value to calculate the necessary fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the transaction is appropriately valued for taxation purposes.

Frequently asked questions

What is the current guideline value of Pachiamman Nagar?

The current guideline value of Pachiamman Nagar is Rs 1,210 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 600 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, representing an overall increase of 102% over the years.

What are the stamp duty rates for properties in Pachiamman Nagar?

The stamp duty rate for properties in Pachiamman Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pachiamman Nagar?

The Sub Registrar Office for Pachiamman Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the classification of land in Pachiamman Nagar?

Pachiamman Nagar is classified as Residential Class I Type - I, indicating its designation for residential use within the area.