Guideline Value for PANCHAYAT MARKET ROAD

Panchayat Market Road guideline value

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

How the guideline value of Panchayat Market Road has changed

The guideline value for Panchayat Market Road has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a -33% change. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, which is a +49% change. The most recent revision in 2024 raised the value to Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the 2024 guideline value for Panchayat Market Road is below the median.

• Panchayat Market Lane: Rs 2,750 per sq.ft (2024)
• Panchayat Market Colony 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 Road

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, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panchayat Market Road?

The Panchayat Market Road falls under the jurisdiction of 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are proportionate to the property's value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Panchayat Market Road?

The current guideline value for Panchayat Market Road 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 back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Panchayat Market Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Panchayat Market Road, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, which is higher than the current value of Panchayat Market Road.