Guideline Value for PANCAVARNAM STREET

Pancavarnam Street guideline value

The current guideline value of Pancavarnam Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Sadayankuppam village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Pancavarnam Street has changed

The guideline value for Pancavarnam Street has seen significant changes over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft. This figure increased substantially to Rs 350 per sq.ft in 2012, marking a rise of 600%. However, in the 2017 revision, the value dropped to Rs 234 per sq.ft, reflecting a decrease of 33%. The 2023 revision recorded a value of Rs 1,000 per sq.ft, which then slightly increased to Rs 1,001 per sq.ft in the 2024 revision, showing no percentage change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,902%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with a median value of Rs 1,002 per sq.ft. Pancavarnam Street's 2024 guideline value is below this median.

• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Nethaji Nagar: Rs 1,002 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Nehru Nagar: Rs 1,002 per sq.ft (2024)
• M.R.B. Nagar: Rs 1,002 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Pancavarnam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost to Rs 90,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pancavarnam Street?

The Pancavarnam Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sadayankuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Pancavarnam Street?

The current guideline value of Pancavarnam Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 50 per sq.ft in 2007 to Rs 1,001 per sq.ft in 2024, marking an overall increase of 1,902%.

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

Other streets in Sadayankuppam include Perumal Koil Street at Rs 1,000 per sq.ft, Nethaji Nagar at Rs 1,002 per sq.ft, and Ponneri High Road at Rs 1,003 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Pancavarnam Street?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 90,090.

Which Sub Registrar Office covers Pancavarnam Street?

The Thiruvottiyur Sub Registrar Office covers Pancavarnam Street, and it is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.