Guideline Value for Pachaiyappan Koil Street

Pachaiyappan Koil Street guideline value

The current guideline value of Pachaiyappan Koil 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 Koil Street has changed

The guideline value for Pachaiyappan Koil Street has seen several revisions over the years. In 2003, the value was set at Rs 154 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +290%. The value then rose to Rs 2,000 per sq.ft in 2012, reflecting an increase of +233% from the previous revision. However, there are no figures available for the years 2002, 2017, and 2023.

The most recent revision in 2024 set the guideline value at Rs 2,160 per sq.ft, which is an increase of +8% from the 2012 figure. Overall, from 2003 to 2024, the guideline value has risen by +1303%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has 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, placing Pachaiyappan Koil Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Pachaiyappan Koil 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, bringing the total cost for these fees to Rs 1,94,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pachaiyappan Koil Street?

The Sub Registrar Office covering Pachaiyappan Koil 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 a critical factor in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that must be paid during the registration of a property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and fees are charged based on the higher of the two values.

When a property is sold, the guideline value serves as a benchmark for the transaction. It ensures that the government receives the appropriate revenue from property sales, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Pachaiyappan Koil Street?

The current guideline value of Pachaiyappan Koil 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 154 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of +1303% over this period.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,94,400.

Which office handles property registrations for Pachaiyappan Koil Street?

The Pallavaram Sub Registrar Office is responsible for property registrations in Pachaiyappan Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Pachaiyappan Koil Street?

Pachaiyappan Koil Street is classified as Residential Class III Type - I, indicating its suitability for residential development.