Guideline Value for PAJANAI KOIL STREET

Pajanai Koil Street guideline value

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

How the guideline value of Pajanai Koil Street has changed

The guideline value for Pajanai Koil 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 2012. This was followed by a decrease to Rs 670 per sq.ft in 2017, and then the value remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the jump from 2007 to 2012 was a remarkable 700%. Overall, from 2007 to 2024, the guideline value has increased by 700%, reflecting significant changes in the valuation over the years.

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 value is Rs 1,000 per sq.ft, which is equal to the guideline value of Pajanai Koil Street.

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

Stamp duty and registration fee for property in Pajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost 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 the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Pajanai Koil Street?

Pajanai Koil Street falls under the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Pajanai Koil Street?

The current guideline value of Pajanai Koil Street is Rs 1,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with notable increases from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, and again remaining at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Pajanai Koil Street?

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

Where can I find the Sub Registrar Office for Pajanai Koil Street?

The Sub Registrar Office that covers Pajanai Koil Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

How is the stamp duty calculated for properties in Vengathur?

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