Guideline Value for Pachaiappan Street

Pachaiappan Street guideline value

The current guideline value of Pachaiappan Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Pachaiappan Street has changed

The guideline value for Pachaiappan Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,750 per sq.ft. This decreased to Rs 1,172 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 1,750 per sq.ft, and further increased to Rs 1,950 per sq.ft in the 2024 revision, reflecting an 11% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, making the 2024 figure for Pachaiappan Street below the median.

• Ottrai Vadai Street: Rs 1,950 per sq.ft (2024)
• Padmavathi Street: Rs 1,950 per sq.ft (2024)
• Om Eswari Street: Rs 1,950 per sq.ft (2024)
• Palaiyakara Street: Rs 1,950 per sq.ft (2024)
• Palani Naicker Street: Rs 1,950 per sq.ft (2024)
• Ohm Eswaran Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiappan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that 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 details.

Which Sub Registrar Office covers Pachaiappan Street?

The Sub Registrar Office that covers Pachaiappan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pachaiappan Street?

The current guideline value of Pachaiappan Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then back to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Pachaiappan Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,75,500, based on the current guideline value of Rs 19,50,000.

Which office handles registrations for Pachaiappan Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Pachaiappan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the appropriate fees are collected based on the higher of the guideline value or the sale price.