Guideline Value for PANAIYUR KUPPAM 5TH STREET

Panaiyur Kuppam 5th Street guideline value

The current guideline value of Panaiyur Kuppam 5th 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, classified as Residential Class II Type - I.

How the guideline value of Panaiyur Kuppam 5th Street has changed

The guideline value for Panaiyur Kuppam 5th Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 3,000 per sq.ft in 2023, which increased by 10% to Rs 3,300 per sq.ft in 2024.

Prior to the 2023 revision, there were no recorded values for the street in the earlier years mentioned. The 2024 revision reflects a significant increase in the guideline value, aligning with the trend observed in the immediate previous year.

Guideline values in Sholinganallur - 1

In 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 value for these streets is Rs 2,200 per sq.ft, making the 2024 figure for Panaiyur Kuppam 5th Street above this median.

• Panaiyur Kuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 7th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam 5th 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, and the registration fee at 2% would be Rs 66,000, totaling 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panaiyur Kuppam 5th Street?

The Sub Registrar Office that covers Panaiyur Kuppam 5th 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

The guideline value plays a crucial role during the registration process of property transactions in Sholinganallur - 1. It serves as a reference for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable charges. This ensures that the registration process is aligned with the current market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Panaiyur Kuppam 5th Street?

The current guideline value of Panaiyur Kuppam 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed 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 10% increase.

What is the classification of land for Panaiyur Kuppam 5th Street?

Panaiyur Kuppam 5th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office registers properties in Panaiyur Kuppam 5th Street?

The Neelankarai Sub Registrar Office is responsible for registering properties in Panaiyur Kuppam 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.