Guideline Value for PANBUNAGAR

Panbunagar guideline value

The current guideline value of Panbunagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Panbunagar has changed

Looking back at the revisions, the guideline value for Panbunagar was Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The 2017 revision recorded a lower value of Rs 469 per sq.ft, reflecting a significant increase of 49% to reach the 2023 figure. The 2012 revision also had a value of Rs 700 per sq.ft, which means there was a decrease of 33% from 2012 to 2017.

Overall, comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which aligns with the guideline value for Panbunagar. Below are the guideline values for other streets in Perumattu Nellore:

• Patel Nagar: Rs 500 per sq.ft (2024)
• N.P.Nagar: Rs 1,717 per sq.ft (2024)
• Pillayar Koil St: Rs 700 per sq.ft (2024)
• Natesan Nagar: Rs 500 per sq.ft (2024)
• Radiant Avenue: Rs 2,500 per sq.ft (2024)
• Rajaji Avenue: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Panbunagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty is calculated at 7%, resulting in Rs 49,000, while the registration fee at 2% amounts to Rs 14,000. Therefore, the total cost for stamp duty and registration fees would be Rs 63,000. It is important to note that 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 Panbunagar?

The Sub Registrar Office covering Panbunagar 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 Perumattu Nellore

The guideline value plays a crucial role in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This system helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Panbunagar?

The current guideline value of Panbunagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has remained at Rs 700 per sq.ft in both the 2012 and 2024 revisions. The value increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, showing a 49% rise.

What is the land classification for Panbunagar?

Panbunagar falls under the Residential Special Type - II land classification, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Panbunagar?

The Chengleput Joint II Sub Registrar Office, which covers Panbunagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Panbunagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000 at 7% and a registration fee of Rs 14,000 at 2%.