Guideline Value for PANAIYUR KUPPAM 1ST STREET

Panaiyur Kuppam 1st Street guideline value

The current guideline value of Panaiyur Kuppam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Panaiyur Kuppam 1st Street has changed

The guideline value for Panaiyur Kuppam 1st Street has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10%.

In the 2024 revision, the guideline value of Rs 3,300 per sq.ft places this street above the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO. The previous revision in 2023 was Rs 3,000 per sq.ft, highlighting a significant increase in the current valuation.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values for various streets range from Rs 1,000 to Rs 8,800 per sq.ft, with the median being Rs 2,200 per sq.ft. Panaiyur Kuppam 1st Street's 2024 figure of Rs 3,300 per sq.ft is notably above this median.

• Panaiyur Kuppam 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 13th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 12th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panaiyur Kuppam 1st Street?

The Sub Registrar Office that covers Panaiyur Kuppam 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is an essential factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized valuation.

When a property transaction occurs, the guideline value helps establish the minimum value on which the stamp duty is calculated. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Panaiyur Kuppam 1st Street?

The current guideline value of Panaiyur Kuppam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a change of +10%.

What is the land classification for Panaiyur Kuppam 1st Street?

The land classification for Panaiyur Kuppam 1st Street is Residential Class II Type - I.

What are the registration fees for property in this area?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Panaiyur Kuppam 1st Street?

The Neelankarai Sub Registrar Office handles property registrations for Panaiyur Kuppam 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.