Guideline Value for Pachayaippan Naicken Street

Pachayaippan Naicken Street guideline value

The current guideline value of Pachayaippan Naicken Street is Rs 4,900 per sq.ft. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Pachayaippan Naicken Street has changed

The guideline value for Pachayaippan Naicken Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 800 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 463%. However, in the following revision in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, reflecting an increase of 63% from 2017.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 513%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Pachayaippan Naicken Street.

• Pachaiyappan Naicker 2nd Street: Rs 3,300 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 Pachayaippan Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, and the registration fee, charged at 2%, would be Rs 98,000. Together, these fees would total Rs 4,41,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Pachayaippan Naicken Street?

The Sub Registrar Office that covers Pachayaippan Naicken 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 is a critical factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pachayaippan Naicken Street?

The current guideline value of Pachayaippan Naicken Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 513%.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a 1,000 sq.ft plot, these fees would total Rs 4,41,000.

Which office do I need to visit for property registration?

The Ashok Nagar Sub Registrar Office is responsible for property registrations in Pachayaippan Naicken Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Pachayaippan Naicken Street?

Pachayaippan Naicken Street falls under the Residential Class III Type - II land classification.