Guideline Value for Panakara Thiruveedhiyan St

Panakara Thiruveedhiyan St guideline value

The current guideline value of Panakara Thiruveedhiyan St 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 Thiruveedhiyan St has changed

The guideline value for Panakara Thiruveedhiyan St has seen several revisions over the years. The 2007 revision recorded a value of Rs 2,500 per sq.ft, which increased significantly to Rs 8,500 per sq.ft in 2012. However, this figure dropped to Rs 5,695 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then rose sharply to Rs 8,500 per sq.ft in 2023, and further increased by 9% to Rs 9,300 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 272%. The register has no 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 Rs 9,300 per sq.ft for Panakara Thiruveedhiyan St is above this median.

• Panakara Arogyam Street: 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 Thiruveedhiyan St

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. 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 detailed calculations.

Which Sub Registrar Office covers Panakara Thiruveedhiyan St?

The Sub Registrar Office covering Panakara Thiruveedhiyan St 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 plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and fair, reflecting the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Panakara Thiruveedhiyan St?

The current guideline value of Panakara Thiruveedhiyan St is Rs 9,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,500 per sq.ft to Rs 9,300 per sq.ft in 2024, marking a total increase of 272% over the years.

What is the land classification for Panakara Thiruveedhiyan St?

Panakara Thiruveedhiyan St is classified as Commercial Class I Type - III.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Nungambakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 at a rate of 7%.