Guideline Value for Pachaikal Veerasamy Street

Pachaikal Veerasamy Street guideline value

The current guideline value of Pachaikal Veerasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class I Type - II.

How the guideline value of Pachaikal Veerasamy Street has changed

The guideline value for Pachaikal Veerasamy Street has seen several revisions since 2007. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 5,500 per sq.ft. The changes between these revisions include a 317% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Pachaikal Veerasamy Street's 2024 figure above this median.

• Othavadai Street: Rs 5,500 per sq.ft (2024)
• Palani Andavar Koil 2nd Lane: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil Ist Lane: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty 2nd Lane: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty Ist Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaikal Veerasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaikal Veerasamy Street?

The Pachaikal Veerasamy Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transactions are transparent and fair.

When buyers and sellers engage in property transactions, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pachaikal Veerasamy Street?

The current guideline value of Pachaikal Veerasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Pachaikal Veerasamy Street?

Pachaikal Veerasamy Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty rates applicable?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Pachaikal Veerasamy Street?

The Sub Registrar Office covering Pachaikal Veerasamy Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.