Guideline Value for PANCHAYAT ROAD

Panchayat Road guideline value

The current guideline value of Panchayat Road in Thiruvancheri village, under the Pallavaram SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Panchayat Road has changed

The guideline value for Panchayat Road has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and most recently, it has been revised to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Panchayat Road is below this median.

• Parvathi Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Panchayat Road?

The Sub Registrar Office that covers Panchayat Road is 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvancheri. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with the legal requirements during property transactions. It also helps in assessing the financial implications of the purchase or sale.

Frequently asked questions

What is the current guideline value of Panchayat Road?

The current guideline value of Panchayat Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 450% over this period.

What is the land classification for Panchayat Road?

Panchayat Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Pallavaram Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total fees would amount to Rs 99,000.