Guideline Value for PANCHAYAT MARKET LANE

Panchayat Market Lane guideline value

The current guideline value of Panchayat Market Lane in Zaminpallavaram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Panchayat Market Lane has changed

The guideline value for Panchayat Market Lane has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced by 33% to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 2,500 per sq.ft in the 2023 revision, and then rose by 10% to the current value of Rs 2,750 per sq.ft in the 2024 revision.

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 10%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which means the current guideline value for Panchayat Market Lane is below this median.

• Panchayat Market Colony Road: Rs 2,750 per sq.ft (2024)
• Panchayat Market Road: Rs 2,750 per sq.ft (2024)
• Panchayat Colony Road: Rs 2,750 per sq.ft (2024)
• Panjapandavar Malai Road: Rs 2,750 per sq.ft (2024)
• Parameswaran Street: Rs 2,160 per sq.ft (2024)
• Pallavan Colony: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Market Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. Please 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 more details.

Which Sub Registrar Office covers Panchayat Market Lane?

The Panchayat Market Lane is covered by the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that are payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered to ensure that the transaction reflects the government's valuation for taxation purposes. This value helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Panchayat Market Lane?

The current guideline value of Panchayat Market Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Panchayat Market Lane?

Panchayat Market Lane is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Panchayat Market Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Panchayat Market Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.