Guideline Value for PANAIYUR KUPPAM 2ND STREET

Panaiyur Kuppam 2nd Street guideline value

The current guideline value of Panaiyur Kuppam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Panaiyur Kuppam 2nd Street has changed

The guideline value for Panaiyur Kuppam 2nd Street has undergone several revisions since 2017. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Panaiyur Kuppam 2nd Street above the median.

• Panaiyur Kuppam 1st Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 13th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam 2nd 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 at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panaiyur Kuppam 2nd Street?

The Sub Registrar Office that covers Panaiyur Kuppam 2nd 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 information.

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

When buying or selling property in Sholinganallur - 1, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark for calculating these fees, ensuring that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. Keeping updated with the latest revisions can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Panaiyur Kuppam 2nd Street?

The current guideline value of Panaiyur Kuppam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification of Panaiyur Kuppam 2nd Street?

Panaiyur Kuppam 2nd Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Panaiyur Kuppam 2nd Street?

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 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.