Guideline Value for PANANKOTTUR (WARD -15)

Panankottur (Ward -15) guideline value

The current guideline value of Panankottur (Ward -15) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as 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 500 per sq.ft, which then dropped to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and it further rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that the 2024 figure for Panankottur (Ward -15) is below this median.

• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Pambaikal Street (Per): Rs 661 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 550 per sq.ft (2024)
• Pandian Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pandidurai Devar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,320 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees are aligned with the current market conditions as reflected in the guideline value register.

Frequently asked questions

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

The current guideline value of Panankottur (Ward -15) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Panankottur (Ward -15) has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

Panankottur (Ward -15) is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Panankottur (Ward -15)?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2% of the guideline value. For a plot of 1,000 sq.ft, the total fees would amount to Rs 49,500.

Which office handles property registrations in Panankottur (Ward -15)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Panankottur (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.