Guideline Value for PANAIYUR KUPPAM 3RD STREET

Panaiyur Kuppam 3rd Street guideline value

The current guideline value of Panaiyur Kuppam 3rd 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 3rd Street has changed

The guideline value for Panaiyur Kuppam 3rd Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant increase of 49%. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Panaiyur Kuppam 3rd Street's 2024 figure above this median.

• Panaiyur Kuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 1st Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam 3rd 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 fees together to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Panaiyur Kuppam 3rd Street?

The Sub Registrar Office that covers Panaiyur Kuppam 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, which is essential for legal and tax purposes. Buyers and sellers should always refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Panaiyur Kuppam 3rd Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the other streets with the same guideline value in Sholinganallur - 1?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 3,300 per sq.ft include Panaiyur Kuppam 1st Street, Panaiyur Kuppam 2nd Street, Panaiyur Kuppam 4th Street, Panaiyur Kuppam 5th Street, Panaiyur Kuppam 6th Street, and Panaiyur Kuppam 1st Cross Street.

What is the registration fee for properties in this area?

The registration fee for properties in Panaiyur Kuppam 3rd Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find my Sub Registrar Office?

The Neelankarai Sub Registrar Office covers Panaiyur Kuppam 3rd Street. You can find more details about your SRO by visiting the provided link.