Guideline Value for PANCHANGA IYER STREET

Panchanga Iyer Street guideline value

The current guideline value of Panchanga Iyer Street is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village and falls under the Salavakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Panchanga Iyer Street has changed

Over the years, the guideline value of Panchanga Iyer Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 175 per sq.ft. In 2017, the guideline value decreased to Rs 117 per sq.ft, marking a 33% drop. However, it rebounded to Rs 175 per sq.ft in the 2024 revision, which has remained unchanged since the 2023 revision. The 2023 to 2024 revision saw no change, maintaining the value at Rs 175 per sq.ft. The 2017 to 2023 period experienced a 50% increase in the guideline value.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Panchanga Iyer Street's 2024 guideline value above this median.

• Pambaikara Street: Rs 102 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)
• Perumal Koil Street: Rs 175 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 175 per sq.ft (2024)
• Nakshatra Nagar: Rs 100 per sq.ft (2024)
• Nakshatra Avenue: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Panchanga Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value would be Rs 1,75,000. The stamp duty at 7% would amount to Rs 12,250, while the registration fee at 2% would be Rs 3,500. Together, the total cost for stamp duty and registration fee would be Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Panchanga Iyer Street?

The Panchanga Iyer Street falls under the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Salavakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction.

It is essential for buyers to understand that the guideline value may differ from the sale price. The stamp duty and registration fees are calculated based on the higher of the two amounts, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Panchanga Iyer Street?

The current guideline value of Panchanga Iyer Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 175 per sq.ft in 2023 and 2024, and a decrease to Rs 117 per sq.ft in 2017. The value has remained at Rs 175 per sq.ft since 2012, with no changes in the last two revisions.

What is the land classification for Panchanga Iyer Street?

The land classification for Panchanga Iyer Street is Residential Class I Type - II.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Panchanga Iyer Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 12,250.