Guideline Value for PAZHANDI AMMAN HUTS

Pazhandi Amman Huts guideline value

The current guideline value of Pazhandi Amman Huts is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Pazhandi Amman Huts has changed

The guideline value for Pazhandi Amman Huts has seen significant changes over the years. In 2002, the guideline value was Rs 528 per sq.ft, which increased to Rs 587 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 53%. By 2012, the guideline value had jumped to Rs 3,000 per sq.ft, a remarkable increase of 233%. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value increased again to Rs 3,000 per sq.ft in 2023, and finally, it rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 525%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Pazhandi Amman Huts is below this median.

• Pattunool Karan Thottam Main Road: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 6th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 5th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 4th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 3rd Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 2nd Street: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pazhandi Amman Huts

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

Which Sub Registrar Office covers Pazhandi Amman Huts?

The Pazhandi Amman Huts area is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pazhandi Amman Huts?

The current guideline value of Pazhandi Amman Huts 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 increased from Rs 528 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 525% over this period.

What is the land classification for Pazhandi Amman Huts?

Pazhandi Amman Huts is classified as Residential Class V Type - III.

Which Sub Registrar Office covers this area?

The Mylapore Sub Registrar Office covers Pazhandi Amman Huts, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a total of Rs 2,97,000 in fees.