Guideline Value for Pananchalai

Pananchalai guideline value

The current guideline value of Pananchalai, located in Perungalathur village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Pananchalai has changed

The guideline value for Pananchalai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, which then rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between the revisions show a 49% increase from 2017 to 2023, while the overall change from 2012 to 2024 is a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO carrying a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Pananchalai's 2024 figure below that median.

• Panchayat Board Street: Rs 2,640 per sq.ft (2024)
• Pandiyan Theru: Rs 1,980 per sq.ft (2024)
• Parameswari Nagar: Rs 1,980 per sq.ft (2024)
• Parvathi Nagar - I Road, I,II,III,IV Cross street, II,III Main Road: Rs 2,640 per sq.ft (2024)
• Parvathi Nagar, Nehru Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Anna Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Pananchalai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that 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 Pananchalai?

The Sub Registrar Office that covers Pananchalai is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market conditions as per the government regulations. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Pananchalai?

The current guideline value of Pananchalai is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Pananchalai?

The land classification for Pananchalai is Residential Class IV Type - II.

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

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Pananchalai located?

The Sub Registrar Office for Pananchalai is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.