Guideline Value for Pachaiyappan Nagar

Pachaiyappan Nagar guideline value

The current guideline value of Pachaiyappan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This locality is situated in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO) jurisdiction. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pachaiyappan Nagar has changed

The guideline value for Pachaiyappan Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it experienced a decline of 33% to Rs 1,005 per sq.ft in the 2017 revision. The value then rose sharply by 49% to Rs 1,500 per sq.ft in 2023, and most recently, it increased by 10% to reach Rs 1,650 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram village, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Pachaiyappan Nagar's 2024 figure below this median.

• Padmanaba Nagar: Rs 4,400 per sq.ft (2024)
• Padmanabha 1 To 3 Streets: Rs 4,400 per sq.ft (2024)
• Padmanabha Nagar Nalvar Street: Rs 4,400 per sq.ft (2024)
• Padmanban Street: Rs 2,970 per sq.ft (2024)
• N.S.R.Road: Rs 2,970 per sq.ft (2024)
• North Mosque Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiyappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. 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 Nagar?

Pachaiyappan Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference for determining the stamp duty and registration fees when buying or selling property in Hastinapuram. It serves as a benchmark for the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Pachaiyappan Nagar?

The current guideline value of Pachaiyappan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking a total increase of 313% over the years.

What is the land classification of Pachaiyappan Nagar?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Pachaiyappan Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pachaiyappan Nagar?

The Sub Registrar Office covering Pachaiyappan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information about it online.