Guideline Value for PANCHAYAT OFFICE CROSS STREET

Panchayat Office Cross Street guideline value

The current guideline value of Panchayat Office Cross Street in Chemmancheri village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Panchayat Office Cross Street has changed

The guideline value for Panchayat Office Cross Street has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 86 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 481%. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of 33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, showing a growth of 49%. Finally, the current value stands at Rs 2,800 per sq.ft as of the 2024 revision, a rise of 12% from the previous year.

It is important to note that there is no figure available for the 2002 revision in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing the 2024 figure for Panchayat Office Cross Street above this median.

• Panchayat Office Road: Rs 2,800 per sq.ft (2024)
• Panchayat Union School Street & Road: Rs 2,800 per sq.ft (2024)
• Pallavaraja Garden: Rs 3,300 per sq.ft (2024)
• Parameswari Garden: Rs 1,100 per sq.ft (2024)
• Parthasarathi Garden: Rs 1,700 per sq.ft (2024)
• Palani Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Office Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty, charged at 7%, would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Panchayat Office Cross Street?

The Panchayat Office Cross Street 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 details.

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

The guideline value plays a crucial role in property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This ensures that the government receives the correct revenue based on the established guideline values.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Panchayat Office Cross Street?

The current guideline value of Panchayat Office Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 86 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 3156% over the years.

What is the land classification for Panchayat Office Cross Street?

Panchayat Office Cross Street is classified as Residential Class II Type - I.

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 is stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.