Guideline Value for Panar Street

Panar Street guideline value

The current guideline value of Panar Street, located in Palavanthangal village under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Panar Street has changed

The guideline value for Panar Street has undergone several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024.

Specifically, the changes between these revisions are notable. From 2007 to 2012, the increase was +300%, followed by a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Panar Street's current value below this median.

• Pazhvanthangal Main Road(Gandhi Road): Rs 3,900 per sq.ft (2024)
• Nobel Street 1st Street: Rs 4,400 per sq.ft (2024)
• Nobel Street: Rs 4,400 per sq.ft (2024)
• Nobel 4th Street: Rs 4,400 per sq.ft (2024)
• Nobel 3rd Street: Rs 4,400 per sq.ft (2024)
• Nobel 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Panar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panar Street?

The Sub Registrar Office that covers Panar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Palavanthangal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

At the time of registration, the guideline value helps in assessing the official value of the property, which is essential for legal and taxation purposes. It is important to be aware of the current guideline value to ensure compliance with local regulations and to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Panar Street?

The current guideline value of Panar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +340% over the years.

What is the land classification of Panar Street?

Panar Street is classified as Residential Class II Type - I, which influences its guideline value and development potential.

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

The total stamp duty and registration fees for a property valued at Rs 33,00,000 would amount to Rs 2,97,000, based on the current guideline value.

Which office handles property registration for Panar Street?

The Alandur Sub Registrar Office is responsible for property registration in Panar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.