Guideline Value for PANAIYUR M.G.R. 8TH ROAD

Panaiyur M.G.R. 8th Road guideline value

The current guideline value of Panaiyur M.G.R. 8th Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village 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. 8th Road has changed

Over the years, the guideline value of Panaiyur M.G.R. 8th Road has seen significant changes. The earliest recorded revision for this street is from 2017, where the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. 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 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

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 guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Panaiyur M.G.R. 8th Road.

• Panaiyur M.G.R. 7th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 9th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 6th Road: Rs 2,200 per sq.ft (2024)
• Panaiyur M.G.R. 5th 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. 3rd Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panaiyur M.G.R. 8th 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panaiyur M.G.R. 8th Road?

The Sub Registrar Office that covers Panaiyur M.G.R. 8th Road 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 an essential factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Panaiyur M.G.R. 8th Road?

The current guideline value of Panaiyur M.G.R. 8th Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64%.

What were the guideline values in previous years?

The guideline values for Panaiyur M.G.R. 8th Road were Rs 1,340 per sq.ft in 2017, Rs 2,000 per sq.ft in 2023, and Rs 2,200 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2012.

What is the stamp duty rate for property in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.