Guideline Value for PANNERSELVAN 3RD STREET

Pannerselvan 3rd Street guideline value

The current guideline value of Pannerselvan 3rd Street, located in Perambur village under the Purasaivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Pannerselvan 3rd Street has changed

The guideline value for Pannerselvan 3rd Street has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value continued to grow, reaching Rs 550 per sq.ft in 2007, a 49% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,675 per sq.ft, reflecting a remarkable 205% increase from 2007. In 2023, the value further increased to Rs 2,500 per sq.ft, a 49% rise from 2017. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an 8% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

Overall, from 2002 to 2024, the guideline value has increased by a substantial 704%. The current figure of Rs 2,700 per sq.ft aligns with the median value for streets in Perambur under the Purasaivakkam SRO, which ranges from Rs 1,600 to Rs 7,100 per sq.ft.

Guideline values in Perambur

In Perambur, the guideline values vary significantly, with 1114 streets under the Purasaivakkam SRO carrying a 2024 figure. The median value is Rs 2,700 per sq.ft, making Pannerselvan 3rd Street's current guideline value equal to this median. Below are the guideline values for other streets in Perambur:

• Pannerselvan 2nd Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 4th Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 1st Street: Rs 2,700 per sq.ft (2024)
• Pannerselvam 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 Pannerselvan 3rd Street

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

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

Which Sub Registrar Office covers Pannerselvan 3rd Street?

Pannerselvan 3rd Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial element in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. Therefore, understanding the guideline value is essential for both buyers and sellers to accurately assess the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Pannerselvan 3rd Street?

The current guideline value of Pannerselvan 3rd 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, marking an overall increase of 704% over the years.

What is the land classification for Pannerselvan 3rd Street?

Pannerselvan 3rd Street is classified as Residential Class III Type - II according to the land classification standards.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.