Guideline Value for INDIA PISTON (PA)

India Piston (Pa) guideline value

The current guideline value for India Piston (Pa) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of India Piston (Pa) has changed

The guideline value for India Piston (Pa) has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained until the 2017 revision when it was adjusted to Rs 335 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 550 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the current 2024 revision, there has been a slight increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the guideline value for India Piston (Pa) below this median.

• Indhu Garden (Sa): Rs 440 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 660 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ilawalahar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Ilavazhaganar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Ilanthiraian Street (Ward -6): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in India Piston (Pa)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers India Piston (Pa)?

The Sub Registrar Office that covers India Piston (Pa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Panangottur, as it determines the minimum value at which a property can be registered. This value ensures that the government receives the appropriate stamp duty and registration fees based on the property's worth.

When a buyer and seller agree on a sale price, the registration process will consider the higher amount between the sale price and the guideline value to calculate the applicable duties and fees. This ensures that all transactions are transparent and adhere to the legal framework set by the state.

Frequently asked questions

What is the current guideline value for India Piston (Pa)?

The current guideline value for India Piston (Pa) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The value was Rs 335 per sq.ft in 2017, and Rs 500 per sq.ft in 2012.

What is the land classification for India Piston (Pa)?

India Piston (Pa) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for India Piston (Pa)?

The Sub Registrar Office for India Piston (Pa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in India Piston (Pa)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.