Guideline Value for PAZHATHOTTAM STREET

Pazhathottam Street guideline value

The current guideline value of Pazhathottam Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Pazhathottam Street has changed

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

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which means Pazhathottam Street's 2024 figure aligns with this median.

• Pappa Palayam: Rs 550 per sq.ft (2024)
• Perumal Kovil North Street: Rs 1,320 per sq.ft (2024)
• Perumal Kovil South Cross Street: Rs 1,320 per sq.ft (2024)
• Perumal Kovil South Street: Rs 1,320 per sq.ft (2024)
• Perumal Kovil Street: Rs 1,320 per sq.ft (2024)
• Pachaiyamman Nagar Main Road: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Pazhathottam Street

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 at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees 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 Pazhathottam Street?

The Sub Registrar Office that covers Pazhathottam Street is 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 during property transactions in Minjur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Ensuring that the property is valued correctly according to the guideline value helps in avoiding legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Pazhathottam Street?

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

How has the guideline value changed over the years?

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

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

Other streets in Minjur include Pappa Palayam at Rs 550 per sq.ft, and several streets near the Perumal Kovil at Rs 1,320 per sq.ft, among others.

What fees are associated with buying property on Pazhathottam Street?

When buying property, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 5,50,000, the total fees would be Rs 49,500.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Pazhathottam Street is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.