Guideline Value for PANCHAYAT OFFICE STREET

Panchayat Office Street guideline value

The current guideline value of Panchayat Office 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 Office Street has changed

The guideline value for Panchayat Office Street has seen several revisions over the years. In 2002, the value was Rs 218 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a significant rise of 221%. The value continued to climb to Rs 2,469 per sq.ft in 2007, reflecting a 253% increase from the previous revision. By 2012, the guideline value was Rs 4,000 per sq.ft, which was a decrease of 33% from 2017's figure of Rs 2,680 per sq.ft.

From 2017 to 2023, the value rose to Rs 4,000 per sq.ft, and then further increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1918%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Panchayat Office Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Panchayat Netunchalai (Main Salai Perungudi): Rs 4,400 per sq.ft (2024)
• Panchayat Netunchalai 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Panchayat Netunchalai 1st Cross Street: 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)
• Padmavathy Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Office Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panchayat Office Street?

The Panchayat Office 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. You can find your SRO for more information.

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 registered, the guideline value is considered to ensure that the transaction reflects the fair value of the property. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Panchayat Office Street?

The current guideline value of Panchayat Office 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 increased significantly from Rs 218 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1918%.

What is the land classification for Panchayat Office Street?

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

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Panchayat Office Street, 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 this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 3,96,000.