Guideline Value for Pachiappan Naicken street

Pachiappan Naicken street guideline value

The current guideline value of Pachiappan Naicken street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Pachiappan Naicken street has changed

The guideline value for Pachiappan Naicken street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, which is an increase of 9% from the 2023 figure of Rs 8,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value was Rs 8,000 per sq.ft in 2023, and prior to that, there are no recorded figures for the years mentioned. The current value of Rs 8,700 per sq.ft reflects the latest adjustments made in the 2024 revision.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, positioning Pachiappan Naicken street's 2024 figure below that median.

• Padmavathi Salai @ Jaipur Colony: Rs 15,400 per sq.ft (2024)
• Olitta Rajani Road: Rs 8,700 per sq.ft (2024)
• North Gopalapuram 2nd Street: Rs 13,200 per sq.ft (2024)
• North Gopalapuram 1st Street: Rs 13,200 per sq.ft (2024)
• Parasuram Nagar (North South): Rs 8,700 per sq.ft (2024)
• Parthasarathy Avenue: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pachiappan Naicken street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000. Together, these fees would total Rs 7,83,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Pachiappan Naicken street?

Pachiappan Naicken street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during property registration in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pachiappan Naicken street?

The current guideline value of Pachiappan Naicken street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a 9% increase.

What is the land classification of Pachiappan Naicken street?

Pachiappan Naicken street is classified as Residential Class I Type - III.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current value of Pachiappan Naicken street.

Where is the Sub Registrar Office for Pachiappan Naicken street located?

The Sub Registrar Office covering Pachiappan Naicken street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.