Guideline Value for PANANTHOPPU COLONY (MARKET LANE)

Pananthoppu Colony (Market Lane) guideline value

The current guideline value for Pananthoppu Colony (Market Lane) is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO, and the land classification is Residential Special Type - III.

How the guideline value of Pananthoppu Colony (Market Lane) has changed

The guideline value for Pananthoppu Colony (Market Lane) has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 413 per sq.ft. This increased to Rs 485 per sq.ft in 2003, marking a rise of 17%. In 2007, the value jumped significantly to Rs 600 per sq.ft, reflecting a 24% increase. The 2012 revision saw the value rise to Rs 2,600 per sq.ft, a substantial increase of 333% from the previous figure.

Following this, the 2017 revision set the guideline value at Rs 1,742 per sq.ft, which was a decrease of 33%. The value then increased to Rs 2,600 per sq.ft in 2023, before reaching its current figure of Rs 2,800 per sq.ft in 2024, representing an 8% increase. There are no figures available for any other years for this street in the register.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Pananthoppu Colony (Market Lane) below this median.

• Palaya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Palagai Thotti Kuppam: Rs 2,150 per sq.ft (2024)
• Pattinathar Koil Street: Rs 3,300 per sq.ft (2024)
• Peillaiyar Koil Street: Rs 3,700 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Periya Mettu Palayam Streets: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pananthoppu Colony (Market Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pananthoppu Colony (Market Lane)?

The Sub Registrar Office that covers Pananthoppu Colony (Market Lane) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It determines the minimum value at which property transactions are registered and is used to calculate the stamp duty and registration fees payable by the buyer.

When a property is sold, the guideline value serves as a benchmark to ensure that the property is not sold below a certain value. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pananthoppu Colony (Market Lane)?

The current guideline value of Pananthoppu Colony (Market Lane) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 413 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 578% over the years.

What is the median guideline value in Thiruvottiyur?

The median guideline value for streets in Thiruvottiyur is Rs 3,300 per sq.ft, while Pananthoppu Colony (Market Lane) is below this median.

What are the stamp duty rates applicable in Pananthoppu Colony (Market Lane)?

The stamp duty rate applicable for property transactions in Pananthoppu Colony (Market Lane) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pananthoppu Colony (Market Lane)?

The Sub Registrar Office for Pananthoppu Colony (Market Lane) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.