Guideline Value for Pachaiyappan Colony 3rd Street

Pachaiyappan Colony 3rd Street guideline value

The current guideline value of Pachaiyappan Colony 3rd 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 3rd Street has changed

The guideline value for Pachaiyappan Colony 3rd Street has undergone several revisions over the years. The earliest available figure is from 2003, where the guideline value was Rs 171 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a change of +251%. In 2012, the value was revised to Rs 2,000 per sq.ft, which represented a substantial increase of +233%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of -33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,160 per sq.ft for 2024, indicating an increase of +8%.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +1163%, showcasing substantial growth over the years.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and Pachaiyappan Colony 3rd Street's 2024 figure is below that median.

• Pachaiyappan Colony 1st Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony 2nd Street: 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)
• Pachaiyappan Colony: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony Extn.: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Colony 3rd 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, and the registration fee at 2% would be Rs 43,200, bringing the total fees together to Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiyappan Colony 3rd Street?

The Sub Registrar Office that covers Pachaiyappan Colony 3rd 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 plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as the benchmark for calculating stamp duty and registration fees, which are mandatory for legal property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standardized value, which helps in maintaining transparency and compliance with local regulations. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pachaiyappan Colony 3rd Street?

The current guideline value of Pachaiyappan Colony 3rd 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, reflecting an overall increase of +1163% over the years.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the total fees would amount to Rs 1,94,400.

Which office handles property registrations for Pachaiyappan Colony 3rd Street?

The Pallavaram Sub Registrar Office handles property registrations for Pachaiyappan Colony 3rd Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Pachaiyappan Colony 3rd Street?

Pachaiyappan Colony 3rd Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.