Guideline Value for Pachaiyappan Colony 1st Street

Pachaiyappan Colony 1st Street guideline value

The current guideline value of Pachaiyappan Colony 1st Street is Rs 2,160 per sq.ft. This street is located in Zaminpallavaram village under the Pallavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Pachaiyappan Colony 1st Street has changed

The guideline value for Pachaiyappan Colony 1st Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 171 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2007, marking a change of +251%. The value then rose to Rs 2,000 per sq.ft in 2012, an increase of +233%. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of -33%. The subsequent revision in 2023 set the value at Rs 2,000 per sq.ft, followed by the current figure of Rs 2,160 per sq.ft effective from 1 July 2024, which is an increase of +8%.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +1163%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Pachaiyappan Colony 1st Street is below this median.

• Pachaiyappan Colony: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony 2nd Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony 3rd Street: Rs 2,160 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 2,750 per sq.ft (2024)
• Pachaiyappan Colony 4th Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony Eri Side St.: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total fees together Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiyappan Colony 1st Street?

The Sub Registrar Office that covers Pachaiyappan Colony 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is often used to assess the minimum value of the property for these calculations.

During the registration of a property, the authorities will consider the guideline value or the sale price, whichever is higher, to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pachaiyappan Colony 1st Street?

The current guideline value of Pachaiyappan Colony 1st Street is Rs 2,160 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 171 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of +1163% over the years.

What are the stamp duty rates for property in Pachaiyappan Colony 1st Street?

The stamp duty for property in Pachaiyappan Colony 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification for Pachaiyappan Colony 1st Street?

Pachaiyappan Colony 1st Street falls under the Residential Class III Type - I land classification.