Guideline Value for PAPPAIYA STREET

Pappaiya Street guideline value

The current guideline value of Pappaiya Street in Koladi village is Rs 1,925 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Pappaiya Street has changed

The guideline value for Pappaiya Street has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,750 per sq.ft in 2012, marking a 600% rise. However, this value saw a decrease to Rs 1,172 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,750 per sq.ft in 2023, followed by a further increase to the current value of Rs 1,925 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 670%. The revisions for the years 2002 and 2003 do not have any figures recorded for Pappaiya Street in the register.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Pappaiya Street's 2024 guideline value of Rs 1,925 per sq.ft is above this median.

• Parasakthi Nagar Aramuthu Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Durai Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Jeevarathinnammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Papaiah Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seethammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seshathri Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Pappaiya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total fees together to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pappaiya Street?

Pappaiya Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Koladi as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs that need to be factored into any property transaction. This ensures that the transaction is legally recognized and properly documented.

Frequently asked questions

What is the current guideline value of Pappaiya Street?

The current guideline value of Pappaiya Street is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,925 per sq.ft in 2024, showing a significant overall increase of 670% over the years.

What are the other streets in Koladi with their guideline values?

Other streets in Koladi include Parasakthi Nagar Aramuthu Street, Parasakthi Nagar Durai Street, Parasakthi Nagar Jeevarathinnammal Street, Parasakthi Nagar Papaiah Street, Parasakthi Nagar Seethammal Street, and Parasakthi Nagar Seshathri Street, all with a guideline value of Rs 880 per sq.ft for 2024.

What are the stamp duty and registration fees for properties on Pappaiya Street?

For a property valued at Rs 19,25,000, the stamp duty would be Rs 1,34,750 and the registration fee would be Rs 38,500, totaling Rs 1,73,250. These fees are calculated based on the guideline value.

Which Sub Registrar Office is responsible for Pappaiya Street?

The Chennai South Joint II Sub Registrar Office is responsible for Pappaiya Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.