Guideline Value for Pachaiyappan Chetty Street

Pachaiyappan Chetty Street guideline value

The current guideline value of Pachaiyappan Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Pachaiyappan Chetty Street has changed

The guideline value of Pachaiyappan Chetty Street has seen several revisions over the years. The earliest recorded revision in 2002 showed a guideline value of Rs 674 per sq.ft. This increased to Rs 740 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,145 per sq.ft in 2007, reflecting a 55% increase. Following that, the value surged to Rs 6,000 per sq.ft in 2012, a remarkable 424% increase. However, in 2017, the value dropped to Rs 4,020 per sq.ft, indicating a 33% decrease. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, which represents a 64% increase from the 2017 figure.

It is important to note that the register has no figure for this street for the year 2023.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Pachaiyappan Chetty Street.

• Ovuliya Saheb 6th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 5th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 4th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 3rd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 1st Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, calculated at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Pachaiyappan Chetty Street?

The Sub Registrar Office that covers Pachaiyappan Chetty Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Triplicane. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for completing the registration process. This ensures that the transaction is officially recorded and recognized by the authorities.

It is important for buyers and sellers to be aware of the guideline value, as it impacts the overall costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Pachaiyappan Chetty Street?

The current guideline value of Pachaiyappan Chetty Street is Rs 6,600 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 674 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 879% over the years.

What was the guideline value in 2017?

In 2017, the guideline value of Pachaiyappan Chetty Street was Rs 4,020 per sq.ft, which was a decrease of 33% from the previous revision in 2012.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office covers Pachaiyappan Chetty Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty at 7% would amount to Rs 4,62,000.