Guideline Value for PANCHAYAT LINK ROAD

Panchayat Link Road guideline value

The current guideline value of Panchayat Link Road in Seevaram village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Panchayat Link Road has changed

The guideline value for Panchayat Link Road has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

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 Link Road's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Panchayat High Road Cross Street: Rs 3,900 per sq.ft (2024)
• Panchayat High Road: Rs 3,900 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 Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panchayat Link Road?

The Panchayat Link Road 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This ensures that the fees reflect the true value of the property being transacted, based on the established guidelines.

Frequently asked questions

What is the current guideline value of Panchayat Link Road?

The current guideline value of Panchayat Link Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Panchayat Link Road?

Panchayat Link Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

How is stamp duty calculated on properties in Seevaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty is charged at 7% of this amount.

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.