Guideline Value for PANAIYUR M.G.R. 9TH ROAD

Panaiyur M.G.R. 9th Road guideline value

The current guideline value of Panaiyur M.G.R. 9th Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Panaiyur M.G.R. 9th Road has changed

The guideline value for Panaiyur M.G.R. 9th Road has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have 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. 9th Road.

• Panaiyur M.G.R. 8th 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. 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. 9th 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. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Panaiyur M.G.R. 9th Road?

The Sub Registrar Office that covers Panaiyur M.G.R. 9th 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 a crucial factor when registering property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the buyer must pay stamp duty based on the guideline 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. 9th Road?

The current guideline value of Panaiyur M.G.R. 9th 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 an overall increase of 64% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Panaiyur M.G.R. 9th Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai SRO located?

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

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is also the current guideline value for Panaiyur M.G.R. 9th Road.