Guideline Value for Patchaiappan Salai

Patchaiappan Salai guideline value

The current guideline value of Patchaiappan Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Patchaiappan Salai has changed

The guideline value for Patchaiappan Salai has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 566 per sq.ft. This increased to Rs 622 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,500 per sq.ft in 2007, an increase of 141%. In 2012, the value remained at Rs 6,500 per sq.ft, showing no recorded change for this street. The next revision in 2017 saw a decrease to Rs 4,355 per sq.ft, a drop of 33%. The value then increased to Rs 6,500 per sq.ft in 2023, and finally, it rose to Rs 7,100 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2002 to 2024, the guideline value for Patchaiappan Salai has increased by 1154%. The revisions for 2012 and 2017 do not have figures for this street in the register.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current guideline value of Patchaiappan Salai.

• Pathma Street: Rs 7,100 per sq.ft (2024)
• Parri Salai (Mugappair East Block 5): Rs 7,100 per sq.ft (2024)
• Parimallazhagar Street: Rs 7,100 per sq.ft (2024)
• Periyar Main Road: Rs 3,800 per sq.ft (2024)
• Panner Nagar Thilak Street: Rs 7,100 per sq.ft (2024)
• Panneer Nagar Part II: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Patchaiappan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost of duty and fees Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Patchaiappan Salai?

The Sub Registrar Office that covers Patchaiappan Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mugappair. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty will be calculated based on the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Patchaiappan Salai?

The current guideline value of Patchaiappan Salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 566 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1154% over this period.

What is the classification of land on Patchaiappan Salai?

Patchaiappan Salai is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Patchaiappan Salai?

The stamp duty for properties in Patchaiappan Salai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Patchaiappan Salai?

The Konnur Sub Registrar Office handles property registrations for Patchaiappan Salai, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.