Guideline Value for Pachaiappan Naicken Thottam (Ward-02)

Pachaiappan Naicken Thottam (Ward-02) guideline value

The current guideline value of Pachaiappan Naicken Thottam (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Pachaiappan Naicken Thottam (Ward-02) has changed

The guideline value for Pachaiappan Naicken Thottam has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following that, the value increased to Rs 1,200 per sq.ft in 2023 and is now Rs 1,300 per sq.ft as per the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The latest change from 2023 to 2024 reflects an 8% increase. 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, with guideline values 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, indicating that the 2024 figure for Pachaiappan Naicken Thottam is below this median.

• Pachaiappan Nagar (Ward No.29): 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 Naicken Thottam (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be 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 cost for these fees 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pachaiappan Naicken Thottam (Ward-02)?

The Sub Registrar Office that covers Pachaiappan Naicken Thottam (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process 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 the appropriate stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value, as it can impact the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Pachaiappan Naicken Thottam?

The current guideline value of Pachaiappan Naicken Thottam (Ward-02) 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 several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

What is the land classification of Pachaiappan Naicken Thottam?

Pachaiappan Naicken Thottam is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office covers Pachaiappan Naicken Thottam and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.