Guideline Value for Pachaiammal Nagar (Ward-29)

Pachaiammal Nagar (Ward-29) guideline value

The current guideline value of Pachaiammal Nagar (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Pachaiammal Nagar (Ward-29) has changed

Since the 2012 revision, the guideline value for Pachaiammal Nagar has seen an increase of 8%. The 2012 revision recorded a value of Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,200 per sq.ft, but it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street. Thus, the only recorded values are from 2012, 2023, and 2024, with the 2024 value being the highest at Rs 1,300 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Pachaiammal Nagar's 2024 value below this median.

• Pachaiappan Colony (Ward No.29): Rs 1,300 per sq.ft (2024)
• Pachaiappan Nagar (Ward No.29): Rs 1,300 per sq.ft (2024)
• Ottravadai Street: Rs 1,600 per sq.ft (2024)
• Pachaiappan Naicken Thottam (Ward-02): Rs 1,300 per sq.ft (2024)
• Ottravadai Lane: Rs 1,300 per sq.ft (2024)
• Ottraivadai st (Ward No.2): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiammal Nagar (Ward-29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Pachaiammal Nagar (Ward-29)?

The Sub Registrar Office that covers Pachaiammal Nagar (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a reference for calculating the stamp duty and registration fees, ensuring that these costs are based on the established values set by the government.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency in transactions and helps in preventing undervaluation of properties.

Frequently asked questions

What is the current guideline value of Pachaiammal Nagar?

The current guideline value of Pachaiammal Nagar (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the land classification of Pachaiammal Nagar?

Pachaiammal Nagar is classified as Residential Class III Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties in Pachaiammal Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total cost of Rs 1,17,000 in fees.

Where is the Sub Registrar Office for Pachaiammal Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covering Pachaiammal Nagar (Ward-29).