Guideline Value for Panakara Arogyam Street

Panakara Arogyam Street guideline value

The current guideline value of Panakara Arogyam Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Panakara Arogyam Street has changed

Over the years, the guideline value of Panakara Arogyam Street has seen significant changes. The 2007 revision set the value at Rs 2,500 per sq.ft, which increased dramatically to Rs 8,500 per sq.ft in 2012, marking a rise of 240%. However, the value then decreased to Rs 5,695 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 8,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 9,300 per sq.ft, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the increase is 272%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Panakara Arogyam Street is above this median.

• Panakara Thiruveedhiyan St: Rs 9,300 per sq.ft (2024)
• Park Sight Street: Rs 7,700 per sq.ft (2024)
• Pathari Road: Rs 20,900 per sq.ft (2024)
• Nungambakkam High Road (or) Uthamar Gandhi Road: Rs 22,000 per sq.ft (2024)
• Nungambakkam High Road 4th Street: Rs 9,900 per sq.ft (2024)
• Nungambakkam High Road 1st Lane: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Panakara Arogyam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total fees together to Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panakara Arogyam Street?

The Sub Registrar Office that covers Panakara Arogyam Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees. It is essential for all parties involved in the transaction to understand this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Panakara Arogyam Street?

The current guideline value of Panakara Arogyam Street is Rs 9,300 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 2,500 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Panakara Arogyam Street?

The land classification for Panakara Arogyam Street is Commercial Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Which office handles the registration for Panakara Arogyam Street?

The registration for Panakara Arogyam Street is handled by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.