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 2 village under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Pachiappan Naicken street has changed

According to the guideline value register, there are no figures available for Pachiappan Naicken street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

The 2024 revision is the most recent update, reflecting the current valuation of the street. The previous revision in 2023 was Rs 8,000 per sq.ft, indicating a significant increase in the guideline value within a year.

Guideline values in Mylapore Part 2

Mylapore Part 2 contains 332 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 the area is Rs 8,800 per sq.ft, placing Pachiappan Naicken street's 2024 figure below this 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 amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Pachiappan Naicken street?

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

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during property registration in Mylapore Part 2. It serves as a benchmark to determine the stamp duty and registration fees, ensuring that these charges are calculated based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. This value is regularly updated by the Registration Department to reflect changes in the real estate market.

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?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft, which is a change of +9%.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft, making Pachiappan Naicken street's 2024 figure below this median.

Where can I find the registration office for Pachiappan Naicken street?

The registration office for Pachiappan Naicken street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Mylapore Part 2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 87,00,000, the stamp duty would be Rs 6,09,000 at a rate of 7%.