Guideline Value for PAPPA PALAYAM

Pappa Palayam guideline value

The current guideline value of Pappa Palayam is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri Sub Registrar Office, classified as Residential Class II Type - I.

How the guideline value of Pappa Palayam has changed

The guideline value for Pappa Palayam has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 550 per sq.ft, representing a 10% increase from the previous year.

Notably, the overall change from the 2017 revision to the 2024 revision is a substantial 64%. It is important to mention that there are no figures recorded for Pappa Palayam in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current value of Pappa Palayam.

• Pazhathottam Street: Rs 550 per sq.ft (2024)
• Pachaiyamman Nagar Main Road: Rs 880 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 880 per sq.ft (2024)
• Pachaiyamman Kovil Road: Rs 550 per sq.ft (2024)
• Om Shakthi Nagar: Rs 550 per sq.ft (2024)
• Perumal Kovil North Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pappa Palayam

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, calculated at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pappa Palayam?

Pappa Palayam falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Minjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable charges. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the stamp duty.

Frequently asked questions

What is the current guideline value of Pappa Palayam?

The current guideline value of Pappa Palayam is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a 64% overall increase over this period.

What are the other streets in Minjur with similar guideline values?

Other streets in Minjur with similar guideline values include Pazhathottam Street and Pachaiyamman Kovil Road, both at Rs 550 per sq.ft in 2024.

What is the registration fee for property in Pappa Palayam?

The registration fee for property in Pappa Palayam is calculated at 2% of the guideline value, which would be Rs 11,000 for a plot valued at Rs 5,50,000.

Where can I find the Sub Registrar Office for Pappa Palayam?

The Sub Registrar Office covering Pappa Palayam is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details online.