Guideline Value for PANAIYUR M.G.R. 6TH ROAD

Panaiyur M.G.R. 6th Road guideline value

The current guideline value of Panaiyur M.G.R. 6th Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road 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 M.G.R. 6th Road has changed

The guideline value for Panaiyur M.G.R. 6th Road has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available 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 that carry 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, which is equal to the guideline value of Panaiyur M.G.R. 6th Road.

• Panaiyur M.G.R. 5th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 7th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 4th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 8th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 3rd Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 9th Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur M.G.R. 6th Road

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 be 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panaiyur M.G.R. 6th Road?

The Neelankarai Sub Registrar Office covers Panaiyur M.G.R. 6th Road. The address is 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Panaiyur M.G.R. 6th Road?

The current guideline value of Panaiyur M.G.R. 6th Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Panaiyur M.G.R. 6th Road?

The Neelankarai Sub Registrar Office is responsible for the registration of properties on Panaiyur M.G.R. 6th Road.

What is the land classification for Panaiyur M.G.R. 6th Road?

Panaiyur M.G.R. 6th Road is classified as Residential Class II Type - III.