Guideline Value for Pachaiyappan Colony 2nd Street

Pachaiyappan Colony 2nd Street guideline value

The current guideline value of Pachaiyappan Colony 2nd Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Pachaiyappan Colony 2nd Street has changed

The guideline value for Pachaiyappan Colony 2nd Street has undergone several revisions over the years. Starting from Rs 171 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007, then rose to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 before climbing to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

In summary, the guideline value has changed from Rs 171 in 2003 to Rs 2,160 in 2024, representing an overall increase of 1163%. Notably, the register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, indicating that the guideline value for Pachaiyappan Colony 2nd Street is below this median.

• Pachaiyappan Colony 1st Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony 3rd Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony: Rs 2,160 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)
• Pachaiyamman Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total costs together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiyappan Colony 2nd Street?

The Sub Registrar Office that covers Pachaiyappan Colony 2nd 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pachaiyappan Colony 2nd Street?

The current guideline value of Pachaiyappan Colony 2nd 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 increased from Rs 171 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, with several revisions in between, including a drop to Rs 1,340 in 2017.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 21,60,000, with a stamp duty of Rs 1,51,200 and a registration fee of Rs 43,200, totaling Rs 1,94,400.

Which office handles registrations for Pachaiyappan Colony 2nd Street?

The registrations for Pachaiyappan Colony 2nd Street are handled by the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Pachaiyappan Colony 2nd Street?

Pachaiyappan Colony 2nd Street is classified as Residential Class III Type - I according to the local land classification regulations.