Guideline Value for PANCHAYAT HIGH ROAD

Panchayat High Road guideline value

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

How the guideline value of Panchayat High Road has changed

The guideline value for Panchayat High Road has seen significant changes over the years. In the 2002 revision, the value was Rs 237 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking a 27% rise. The value further escalated to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 200%. By 2012, the value was Rs 3,500 per sq.ft, indicating a 289% jump from the previous revision. However, in 2017, it decreased to Rs 2,345 per sq.ft, a decline of 33% from the 2012 figure. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1546%. The register has no figures for the years not listed in the revisions, ensuring clarity on the changes over time.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, making the 2024 figure for Panchayat High Road above this median.

• Panchayat High Road Cross Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of 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?

The Sub Registrar Office that covers Panchayat High Road is 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Seevaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the current guideline value to accurately estimate the costs involved in the registration process. Proper understanding of these values can facilitate smoother transactions and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Panchayat High Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 237 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1546% over this period.

What is the land classification for Panchayat High Road?

The land classification for Panchayat High Road is Residential Special Type - IV, indicating its designated use for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total costs can be significant, including both stamp duty and registration fees.