Guideline Value for PANCHAYAT NETUNCHALAI 2ND CROSS STREET

Panchayat Netunchalai 2nd Cross Street guideline value

The current guideline value of Panchayat Netunchalai 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Panchayat Netunchalai 2nd Cross Street has changed

The guideline value for Panchayat Netunchalai 2nd Cross Street has undergone several revisions over the years. In the 2003 revision, the value was set at Rs 700 per sq.ft. This increased significantly to Rs 2,469 per sq.ft in 2007, marking a change of +253%. The value then rose to Rs 4,000 per sq.ft in 2012, reflecting a growth of +62%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of -33%. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, which was a +49% change, and finally reached Rs 4,400 per sq.ft in the 2024 revision, an increase of +10%.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by +529%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Panchayat Netunchalai 2nd Cross Street above this median.

• Panchayat Netunchalai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Panchayat Netunchalai (Main Salai Perungudi): Rs 4,400 per sq.ft (2024)
• Panchayat Main Road 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Panchayat Link Road & Extension: Rs 4,400 per sq.ft (2024)
• Panchayat Office Street: Rs 4,400 per sq.ft (2024)
• Padmavathy Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Netunchalai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to 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 Netunchalai 2nd Cross Street?

The Panchayat Netunchalai 2nd Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Panchayat Netunchalai 2nd Cross Street?

The current guideline value of Panchayat Netunchalai 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +529% over this period.

What is the land classification of this street?

Panchayat Netunchalai 2nd Cross Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties here?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current guideline value.

Which office handles the registration for this area?

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