Guideline Value for Pachaiyappan Naicker 2nd Street

Pachaiyappan Naicker 2nd Street guideline value

The current guideline value of Pachaiyappan Naicker 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

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

In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, which is a 64% rise from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Pachaiyappan Naicker 2nd Street is below this median.

• Pachayaippan Naicken Street: Rs 4,900 per sq.ft (2024)
• Pada Salai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 5th Cross Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Pachaiyappan Naicker 2nd Street?

The Sub Registrar Office that covers Pachaiyappan Naicker 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the property transaction. Ensuring that the property is registered at or above the guideline value is necessary to comply with local regulations.

Frequently asked questions

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

The current guideline value of Pachaiyappan Naicker 2nd Street is Rs 3,300 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

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

Pachaiyappan Naicker 2nd Street is classified as Residential Class IV Type - II according to the local land classification regulations.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office handles registrations for this street?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Pachaiyappan Naicker 2nd Street.