Guideline Value for PANCHALIAMMAN KOIL STREET

Panchaliamman Koil Street guideline value

The current guideline value of Panchaliamman Koil Street is Rs 7,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Panchaliamman Koil Street has changed

Over the years, the guideline value of Panchaliamman Koil Street has seen significant changes. The earliest recorded figure is from 2007, where it was Rs 2,000 per sq.ft. This value increased to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 250%. However, in 2017, the value dropped to Rs 4,690 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 7,000 per sq.ft in 2023, before reaching the current figure of Rs 7,500 per sq.ft in the 2024 revision, which is a 7% increase from the previous year.

There are no recorded figures for Panchaliamman Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 275%, highlighting the fluctuations in property valuation over the years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Panchaliamman Koil Street's 2024 figure above the median.

• Parasakthi Nagar: Rs 3,300 per sq.ft (2024)
• Parijathammal Street: Rs 6,000 per sq.ft (2024)
• Pari Street: Rs 3,800 per sq.ft (2024)
• Patel Street: Rs 6,000 per sq.ft (2024)
• Padavattamman Koil Street: Rs 6,000 per sq.ft (2024)
• Pachaiappan Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Panchaliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,500 per sq.ft, the total guideline value amounts to Rs 75,00,000. The stamp duty at 7% would be Rs 5,25,000, and the registration fee at 2% would be Rs 1,50,000, bringing the total cost for these fees to Rs 6,75,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Panchaliamman Koil Street?

The Sub Registrar Office that covers Panchaliamman Koil Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Panchaliamman Koil Street?

The current guideline value of Panchaliamman Koil Street is Rs 7,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 2,000 per sq.ft to Rs 7,500 per sq.ft in 2024. Notable changes include a drop to Rs 4,690 per sq.ft in 2017 and a rise to Rs 7,000 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 75,00,000, the stamp duty at 7% would be Rs 5,25,000, and the registration fee at 2% would be Rs 1,50,000, totaling Rs 6,75,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Panchaliamman Koil Street?

The Kodambakkam Sub Registrar Office handles property registrations for Panchaliamman Koil Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value determined for properties in Arumbakkam?

The guideline value for properties in Arumbakkam is determined by the Registration Department's guideline value register. It reflects the minimum value for registration and varies across different streets within the village.