Guideline Value for Pachaiyappan Colony

Pachaiyappan Colony guideline value

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

How the guideline value of Pachaiyappan Colony has changed

The guideline value for Pachaiyappan Colony has seen several revisions over the years. The earliest recorded figure is from 2003, set at Rs 171 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, followed by a jump to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 before rising to Rs 2,000 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 2,160 per sq.ft.

Between the revisions, the changes are noteworthy. The increase from 2017 to 2023 was 49%, while the jump from 2007 to 2012 was 233%. The overall increase from 2003 to 2024 stands at a substantial 1163%. The register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Pachaiyappan Colony's 2024 figure below that median.

• Pachaiyappan Colony 1st Street: Rs 2,160 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 2,750 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)
• Pachaiyappan Colony 4th Street: Rs 2,160 per sq.ft (2024)
• Pachaiamman Koil Colony Eri Ora Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Colony

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, bringing the total to Rs 1,94,400. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiyappan Colony?

The Sub Registrar Office that covers Pachaiyappan Colony 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 a crucial 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 at a fair value as per the government standards.

When a buyer purchases a property, the guideline value helps in assessing the financial obligations such as stamp duty and registration fees. This ensures transparency and compliance with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pachaiyappan Colony?

The current guideline value of Pachaiyappan Colony 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, showing an overall increase of 1163% over the years.

What are the stamp duty and registration fees for property in Pachaiyappan Colony?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,94,400.

Which office handles property registrations for Pachaiyappan Colony?

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

What is the land classification of Pachaiyappan Colony?

Pachaiyappan Colony is classified as Residential Class III Type - I, which indicates its designation for residential purposes.