Guideline Value for Pachaiyamman Koil Street

Pachaiyamman Koil Street guideline value

The current guideline value of Pachaiyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Pachaiyamman Koil Street has changed

The guideline value for Pachaiyamman Koil Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017 before rising to Rs 2,500 per sq.ft again in 2023. The current value of Rs 2,750 per sq.ft reflects a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was notable at 49%. The overall increase from 2007 to 2024 amounts to 450%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Pachaiyamman Koil Street is below this median.

• Ottai Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Padmavathi Nagar: Rs 4,400 per sq.ft (2024)
• New Colony Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 5th Street: Rs 4,400 per sq.ft (2024)
• New Colony 4th Street: Rs 4,400 per sq.ft (2024)
• New Colony 4th Cross Street: Rs 4,400 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 accurate estimations.

Which Sub Registrar Office covers Pachaiyamman Koil Street?

The Sub Registrar Office that covers Pachaiyamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pachaiyamman Koil Street?

The current guideline value of Pachaiyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with Pachaiyamman Koil Street's value being below this median.

What are the stamp duty and registration fees for properties in Pachaiyamman Koil Street?

For a 1,000 sq.ft property, the total guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Pachaiyamman Koil Street?

The Virugambakkam Sub Registrar Office handles property registrations for Pachaiyamman Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.