Guideline Value for Pachaiyamman Koil Street

Pachaiyamman Koil Street guideline value

The current guideline value of Pachaiyamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village, under the Alandur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Pachaiyamman Koil Street has changed

The guideline value for Pachaiyamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, by 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The 2023 revision saw the value rise again to Rs 5,000 per sq.ft before reaching the current value of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Pachaiyamman Koil Street. From 2017 to 2023, the value increased by 49%, and the overall change from 2007 to 2024 is an increase of 450%.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Pachaiyamman Koil Street's current value above this median.

• Paruthivakkam Street: Rs 5,500 per sq.ft (2024)
• Pudhupettai Street: Rs 5,000 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Mettu Street/Paris Apts.: Rs 3,900 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Pachaiyamman Koil Street?

The Sub Registrar Office that covers Pachaiyamman Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Paruthivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the guideline value to ensure compliance with legal requirements. The registration process will involve paying the necessary fees based on this value, making it a vital aspect of any property transaction in the area.

Frequently asked questions

What is the current guideline value of Pachaiyamman Koil Street?

The current guideline value of Pachaiyamman Koil 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 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 5,500 per sq.ft, the total stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, amounting to a total of Rs 4,95,000 for a 1,000 sq.ft plot.

Which office handles property registrations for Pachaiyamman Koil Street?

The Alandur Sub Registrar Office handles property registrations for Pachaiyamman Koil Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

The guideline value is essential in property transactions as it determines the minimum registration value and the fees applicable during the registration process. Buyers and sellers must consider this value to comply with legal requirements.