Guideline Value for PAZHA THOTTA SALAI (FRUITS GARDEN STREET)

Pazha Thotta Salai (Fruits Garden Street) guideline value

The current guideline value of Pazha Thotta Salai (Fruits Garden Street) is Rs 3,300 per sq.ft. This street is located in Chemmancheri village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Pazha Thotta Salai (Fruits Garden Street) has changed

The guideline value for Pazha Thotta Salai has undergone several revisions over the years. In 2003, the value was Rs 115 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following that, the value saw a significant rise to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, effective from 1 July 2024. The register has no figure for this street in 2002.

Notable changes between revisions include a 161% increase from 2003 to 2007, a 567% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 124% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 2770%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Pazha Thotta Salai is above this median.

• Parthasarathi Garden: Rs 1,700 per sq.ft (2024)
• Parameswari Garden: Rs 1,100 per sq.ft (2024)
• Panchayat Union School Street & Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Cross Street: Rs 2,800 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pazha Thotta Salai (Fruits Garden Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Please 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.

Which Sub Registrar Office covers Pazha Thotta Salai (Fruits Garden Street)?

The Pazha Thotta Salai (Fruits Garden Street) falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the government.

When a property transaction occurs, the guideline value helps in establishing a fair basis for taxation and legal documentation. Buyers and sellers must consider this value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Pazha Thotta Salai?

The current guideline value of Pazha Thotta Salai (Fruits Garden Street) is Rs 3,300 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 115 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2770% over this period.

What is the land classification for Pazha Thotta Salai?

The land classification for Pazha Thotta Salai (Fruits Garden Street) is Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,97,000 in fees.

Where can I find the Sub Registrar Office for Pazha Thotta Salai?

The Neelankarai Sub Registrar Office, which covers Pazha Thotta Salai, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.