Guideline Value for PANCHAYAT HIGH ROAD CROSS STREET

Panchayat High Road Cross Street guideline value

The current guideline value of Panchayat High Road Cross Street in Seevaram village, under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Panchayat High Road Cross Street has changed

The guideline value for Panchayat High Road Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 3,900 per sq.ft, representing an 11% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft, with a median value of Rs 2,800 per sq.ft. Panchayat High Road Cross Street's 2024 figure of Rs 3,900 per sq.ft is above this median.

• Panchayat High Road: Rs 3,900 per sq.ft (2024)
• Panchayat Link Road: Rs 3,300 per sq.ft (2024)
• Old Mahabalipuram Road: Rs 8,300 per sq.ft (2024)
• Rajiv Nagar: Rs 3,300 per sq.ft (2024)
• Maruthi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Maruthi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat High Road Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost Rs 3,51,000. 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 Panchayat High Road Cross Street?

The Panchayat High Road Cross Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Seevaram. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure they understand the implications of the guideline value on their financial commitments during the registration process.

Frequently asked questions

What is the current guideline value of Panchayat High Road Cross Street?

The current guideline value of Panchayat High Road Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for Panchayat High Road Cross Street?

The land classification for Panchayat High Road Cross Street is Residential Special Type - IV.

Where can I find the Sub Registrar Office for this street?

The Neelankarai Sub Registrar Office covers Panchayat High Road Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same amount.