Guideline Value for Pappan Ali Street

Pappan Ali Street guideline value

The current guideline value of Pappan Ali Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Pappan Ali Street has changed

Over the years, the guideline value of Pappan Ali Street has seen significant changes. In 2007, the value was Rs 700 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a 91% rise. The value then jumped to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has risen by 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Pappan Ali Street's 2024 figure above this median.

• P.A.N. Rajarathinam Salai (G.A.Salai) (M C Road to Kalmandapam Telephone Exchange): Rs 6,600 per sq.ft (2024)
• P.A.N. Rajarathinam Salai(G.A.Salai) (Kalmandapam Telephone Exchange to Tondiapet Market): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 8th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 7th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 6th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 5th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pappan Ali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pappan Ali Street?

Pappan Ali Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the applicable stamp duty and registration fees.

When registering a property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pappan Ali Street?

The current guideline value of Pappan Ali Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall rise of 214%.

What is the land classification of Pappan Ali Street?

Pappan Ali Street is classified as Residential Class I Type - I under the Royapuram SRO.

What are the stamp duty rates for properties in Pappan Ali Street?

The stamp duty for properties in Pappan Ali Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.