Guideline Value for PANCHAYAT OFFICE ROAD

Panchayat Office Road guideline value

The current guideline value of Panchayat Office Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This road is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Panchayat Office Road has changed

The guideline value for Panchayat Office Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

In total, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing the 2024 figure for Panchayat Office Road below this median.

• Palla Colony: Rs 1,100 per sq.ft (2024)
• Parthasarathy Nagar: Rs 3,300 per sq.ft (2024)
• Parthasarathy Nagar Extn Part Street: Rs 3,300 per sq.ft (2024)
• Parthasarathy Nagar Street Main Road: Rs 3,300 per sq.ft (2024)
• Pazhindi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Periya Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Office Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making a total of Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panchayat Office Road?

The Panchayat Office Road is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the sale price must be compared to the guideline value. If the sale price is higher, the duty is charged on the sale price; if it is lower, the duty is charged on the guideline value. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Panchayat Office Road?

The current guideline value of Panchayat Office Road is Rs 1,980 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revisions for Panchayat Office Road occurring in 2012, 2017, 2023, and 2024.

What was the guideline value in 2017?

The guideline value for Panchayat Office Road in 2017 was Rs 1,206 per sq.ft.

How does the guideline value compare to other streets in Manapakkam?

The guideline value of Rs 1,980 per sq.ft for Panchayat Office Road is below the median value of Rs 2,530 per sq.ft for other streets in Manapakkam.

Where can I find the Sub Registrar Office for Panchayat Office Road?

The Sub Registrar Office covering Panchayat Office Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.