Guideline Value for PANANKOTTUR (WARD -15)

Panankottur (Ward -15) guideline value

The current guideline value for Panankottur (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This area is part of Sattamangalam 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 undergone several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has risen by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value 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 660 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 440 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 rate of Rs 440 per sq.ft, the 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, bringing the total to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. 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, 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 Sattamangalam

The guideline value plays a crucial role when buying or selling property in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the registration process. It helps in assessing the financial implications of a property transaction.

Frequently asked questions

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

The current guideline value for 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 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Sattamangalam with their guideline values?

Other streets in Sattamangalam include Pammal K. Sampanthar Salai at Rs 1,760 per sq.ft, Pambaikal Street at Rs 660 per sq.ft, and Pandian Street at Rs 1,320 per sq.ft, among others.

What is the registration fee for property in Panankottur (Ward -15)?

The registration fee for property in Panankottur (Ward -15) is calculated based on the guideline value. For a plot valued at Rs 4,40,000, the registration fee would be Rs 8,800 at a rate of 2%.

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

The Sub Registrar Office for Panankottur (Ward -15) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chenglepurt Joint II SRO.