Guideline Value for PANAIYUR KUPPAM SCHOOL 2ND CROSS STREET LANE

Panaiyur Kuppam School 2nd Cross Street Lane guideline value

The current guideline value of Panaiyur Kuppam School 2nd Cross Street Lane 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, and it falls under the Residential Class II Type - III land classification.

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

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision was in 2002, but the register has no figure for this street for the years 2003, 2007, 2012, and 2023. In 2017, the guideline value was set at Rs 1,340 per sq.ft, and this increased to Rs 2,200 per sq.ft in the 2024 revision, marking a significant change of +64% from the 2017 figure.

With the 2024 revision, Panaiyur Kuppam School 2nd Cross Street Lane's guideline value aligns with the median figure of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO. The previous revisions without figures indicate a lack of recorded values for this street, making the current guideline value particularly relevant for property transactions.

Guideline values in Sholinganallur - 1

The 2024 guideline values for properties in Sholinganallur - 1 range from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Panaiyur Kuppam School 2nd Cross Street Lane is equal to this median, reflecting its position within the village. Below are other streets in Sholinganallur - 1:

• Panaiyur Kuppam School 1st Street: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam School 2nd Street: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam School 1st Cross Street Lane: Rs 2,200 per sq.ft (2024)
• Panaiyur Kuppam School 2nd Street 1st Cross Lane: 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 School 2nd Street 2nd Cross Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur Kuppam School 2nd Cross Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000 for both fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panaiyur Kuppam School 2nd Cross Street Lane?

The Panaiyur Kuppam School 2nd Cross Street Lane is covered by 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 serves as a benchmark for determining the minimum value at which a property can be registered. It is essential for both buyers and sellers to be aware of this value as it impacts the overall transaction costs, including stamp duty and registration fees.

The guideline value also plays a crucial role in ensuring transparency in property transactions, helping to prevent underreporting of property values. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Panaiyur Kuppam School 2nd Cross Street Lane?

The current guideline value for Panaiyur Kuppam School 2nd Cross Street Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

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

Other streets in Sholinganallur - 1 with the same guideline value of Rs 2,200 per sq.ft include Panaiyur Kuppam School 1st Street, Panaiyur Kuppam School 2nd Street, and several others listed above.

What is the role of the Neelankarai SRO?

The Neelankarai SRO is responsible for the registration of property transactions in the area, ensuring that all transactions comply with legal requirements and that the guideline values are applied correctly.

How is stamp duty calculated for properties in this area?

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 22,00,000, the stamp duty would be calculated at 7% of that amount.