Guideline Value for PANANKOTTUR (WARD -15)

Panankottur (Ward -15) guideline value

The current guideline value of Panankottur (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this locality is Residential Class II Type - II.

How the guideline value of Panankottur (Ward -15) has changed

The guideline value for Panankottur (Ward -15) has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the area is Rs 1,100 per sq.ft, placing Panankottur (Ward -15) below this median.

• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Pambaikal Street (Per): Rs 660 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 660 per sq.ft (2024)
• Pandian Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Pandidurai Devar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Panankottur (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of Rs 39,600 for the transaction. It is important to 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 Panankottur (Ward -15)?

The Sub Registrar Office that covers Panankottur (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ninna Karai

The guideline value plays a crucial role in property transactions in Ninna Karai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the appropriate revenue based on the property's assessed value.

During the registration process, the buyer and seller must provide the guideline value to calculate the necessary fees. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Panankottur (Ward -15)?

The current guideline value of Panankottur (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024, marking a 10% increase. It was Rs 268 per sq.ft in 2017, which was a significant increase of 49% from the previous revision.

What is the land classification for Panankottur (Ward -15)?

The land classification for Panankottur (Ward -15) is Residential Class II Type - II, indicating its suitability for residential development.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a property valued at Rs 4,40,000, the total fees would amount to Rs 39,600.

Where can I find the Sub Registrar Office for Panankottur (Ward -15)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.