Guideline Value for Pachyappa Naicken Street

Pachyappa Naicken Street guideline value

The current guideline value of Pachyappa Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Pachyappa Naicken Street has changed

The guideline value for Pachyappa Naicken Street has seen several revisions over the years. The 2003 revision set the value at Rs 530 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision raised it to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 523%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Pachyappa Naicken Street's 2024 figure above this median.

• Old Trunk Road: Rs 11,000 per sq.ft (2024)
• P.A. Jaganathan Lane: Rs 3,850 per sq.ft (2024)
• Officers Lane: Rs 3,850 per sq.ft (2024)
• P.A. Jaganathan Street: Rs 3,850 per sq.ft (2024)
• Pandian Street: Rs 2,700 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pachyappa Naicken 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Pachyappa Naicken Street?

The Sub Registrar Office that covers Pachyappa Naicken Street is 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 Cantonment Pallavaram

The guideline value is a critical component in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is assessed to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pachyappa Naicken Street?

The current guideline value of Pachyappa Naicken 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 from Rs 530 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 523% over the years.

What are the other streets with guideline values in Cantonment Pallavaram?

Other streets in Cantonment Pallavaram include Old Trunk Road at Rs 11,000 per sq.ft, P.A. Jaganathan Lane, Officers Lane, and P.A. Jaganathan Street at Rs 3,850 per sq.ft, among others.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Where can I find my Sub Registrar Office?

The Pallavaram Sub Registrar Office covers Pachyappa Naicken Street, and its address is 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by using the provided link.