Guideline Value for Panagal Street

Panagal Street guideline value

The current guideline value of Panagal Street in Thiruvallur village, under the Tiruvallur Joint 1 SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - IV.

How the guideline value of Panagal Street has changed

Over the years, the guideline value of Panagal Street has seen significant changes. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 400%. However, the value decreased to Rs 1,675 per sq.ft in the 2017 revision, a drop of 33%. The guideline value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that there are no figures available for Panagal Street in the 2002 and 2003 revisions. From the 2017 revision to the 2023 revision, there was a significant increase of 49%, bringing the value to Rs 2,500 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, positioning Panagal Street's 2024 figure above this median.

• Pallavan Street: Rs 1,100 per sq.ft (2024)
• Parimelalakar Street: Rs 1,100 per sq.ft (2024)
• Pakthavatchalam Street: Rs 1,650 per sq.ft (2024)
• Pathiyalpeettai: Rs 1,650 per sq.ft (2024)
• Paventhar Street: Rs 1,320 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Panagal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Panagal Street?

The Sub Registrar Office that covers Panagal Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Panagal Street?

The current guideline value of Panagal Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 450%.

What is the registration office for Panagal Street?

Panagal Street falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

What is the land classification of Panagal Street?

Panagal Street is classified as Residential Special Type - IV, which influences its guideline value and potential uses.