Guideline Value for PANAIYUR KUPPAM M.G.R. MAIN STREET

Panaiyur Kuppam M.G.R. Main Street guideline value

The current guideline value of Panaiyur Kuppam M.G.R. Main Street is Rs 2,200 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 - III.

How the guideline value of Panaiyur Kuppam M.G.R. Main Street has changed

The guideline value for Panaiyur Kuppam M.G.R. Main Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2024 revision, marking a significant rise of 64% over this period.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The 2024 revision reflects the current market conditions and aligns with the median guideline value for the village.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Panaiyur Kuppam M.G.R. Main Street's 2024 guideline value is equal to this median.

• Panaiyur Kuppam Mayana Salai: Rs 1,700 per sq.ft (2024)
• Panaiyur Kuppam M.G.R.Sea Shore Street-Jahir Hussain 1st Street Joint: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam Dharka Street: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam M.G.R. Street Up To Sea Shore: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam 9th Street: Rs 3,300 per sq.ft (2024)
• Panaiyur Kuppam School 1st Cross Street Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam M.G.R. Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 M.G.R. Main Street?

The Sub Registrar Office that covers Panaiyur Kuppam M.G.R. Main 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 is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Panaiyur Kuppam M.G.R. Main Street?

The current guideline value of Panaiyur Kuppam M.G.R. Main Street is Rs 2,200 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 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a rise of 64%.

Are there any revisions without figures for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Panaiyur Kuppam M.G.R. Main Street.

Which office handles the registration for this street?

The Neelankarai Sub Registrar Office is responsible for the registration of properties on Panaiyur Kuppam M.G.R. Main Street.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.