Guideline Value for Pachaiappan Nagar (Ward No.29)

Pachaiappan Nagar (Ward No.29) guideline value

The current guideline value for Pachaiappan Nagar (Ward No.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 Pachaiappan Nagar (Ward No.29) has changed

The guideline value for Pachaiappan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, the current value is Rs 1,300 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 8% from 2023 to 2024, and there was a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Pachaiappan Nagar's 2024 guideline value is below this median.

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

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

Which Sub Registrar Office covers Pachaiappan Nagar (Ward No.29)?

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

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership.

Frequently asked questions

What is the current guideline value for Pachaiappan Nagar (Ward No.29)?

The current guideline value for Pachaiappan Nagar (Ward No.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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Pachaiappan Nagar?

Pachaiappan Nagar is classified as Residential Class III Type - I.

What is the stamp duty rate in Pachaiappan Nagar?

The stamp duty rate for property transactions in Pachaiappan Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pachaiappan Nagar located?

The Sub Registrar Office for Pachaiappan Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.