Guideline Value for PANNERSELVAM STREET

Pannerselvam Street guideline value

The current guideline value of Pannerselvam Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Pannerselvam Street has changed

The guideline value for Pannerselvam Street has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The value saw a significant rise to Rs 550 per sq.ft in 2007. Following this, it jumped to Rs 2,500 per sq.ft in 2012, before decreasing to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The most notable change occurred from 2007 to 2012, where it rose by 355%. Overall, from 2002 to 2024, the guideline value has increased by 704%. There are no figures available for any other revisions for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Pannerselvam Street.

• Pannerselvan 1st Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 2nd Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 3rd Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 4th Street: Rs 2,700 per sq.ft (2024)
• Paptist Church Road: Rs 3,200 per sq.ft (2024)
• Paramasivam Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pannerselvam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. 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 Pannerselvam Street?

The Sub Registrar Office that covers Pannerselvam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Perambur. It serves as the basis for calculating the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers should be aware of the guideline value to ensure they are prepared for these costs.

When a property is registered, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official value assigned to the property.

Frequently asked questions

What is the current guideline value of Pannerselvam Street?

The current guideline value of Pannerselvam Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 704% over this period.

What are the stamp duty and registration fees for properties in Pannerselvam Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 27,00,000. The stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Pannerselvam Street?

The Purasaivakkam Sub Registrar Office is responsible for Pannerselvam Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Pannerselvam Street?

Pannerselvam Street is classified under Residential Class III Type - II, which indicates its zoning for residential use.