Guideline Value for Panagal Street

Panagal Street guideline value

The current guideline value of Panagal Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class IV Type - II.

How the guideline value of Panagal Street has changed

The guideline value for Panagal Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 has seen the guideline value rise to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figure for Panagal Street for the years 2002, 2003, and 2007.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Panagal Street's 2024 figure is below this median.

• Pallavan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Pandalamman Street: Rs 1,400 per sq.ft (2024)
• Pandi Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Pandi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pandiyan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Pandiyan Street (Pudur): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Panagal Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panagal Street?

The Sub Registrar Office that covers Panagal Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and legally, protecting both the buyer and seller in the process.

Frequently asked questions

What is the current guideline value of Panagal Street?

The current guideline value of Panagal Street 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Panagal Street?

Panagal Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property in Panagal Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 99,000, based on the guideline value of Rs 11,00,000.

Which office handles the registration for Panagal Street?

The Ambattur Sub Registrar Office handles the registration for Panagal Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.