Guideline Value for Panayancheri nagar

Panayancheri nagar guideline value

The current guideline value of Panayancheri nagar is Rs 160 per sq.ft, effective from 1 July 2024. This area is located in Periyapalayam village under the Arani_Tiruvallur SRO, classified as Residential Class IV Type - I.

How the guideline value of Panayancheri nagar has changed

Over the years, the guideline value for Panayancheri nagar has seen several revisions. The earliest available figure is from 2007, when the value was Rs 100 per sq.ft. This increased to Rs 160 per sq.ft in 2012, marking a 60% rise. However, in 2017, the value dropped to Rs 107 per sq.ft, which was a decrease of 33%. By 2023, it returned to Rs 160 per sq.ft, and the latest revision in 2024 has kept it at Rs 160 per sq.ft, showing no change from the previous year.

The revisions for the years 2002 and 2003 do not have any figures recorded for this street. Overall, from 2007 to 2024, the guideline value has increased by 60%.

Guideline values in Periyapalayam

In Periyapalayam village, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Panayancheri nagar is below this median.

• Palaiakkara Street: Rs 600 per sq.ft (2024)
• Periyapalayam - Chennai Road: Rs 400 per sq.ft (2024)
• Periyapalayam Shri Bhavani Amman Nagar: Rs 160 per sq.ft (2024)
• New Diamond City: Rs 600 per sq.ft (2024)
• Nethaji Nagar: Rs 200 per sq.ft (2024)
• M.G.R.Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Panayancheri nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 160 per sq.ft, the total guideline value amounts to Rs 1,60,000. The stamp duty at 7% would be Rs 11,200, and the registration fee at 2% would be Rs 3,200, leading to a total of Rs 14,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Panayancheri nagar?

The Sub Registrar Office that covers Panayancheri nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Periyapalayam. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When engaging in property transactions, it is essential to understand that the guideline value is set by the government and is subject to periodic revisions. This value ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Panayancheri nagar?

The current guideline value of Panayancheri nagar is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007, rising to Rs 160 in 2012, then falling to Rs 107 in 2017, and returning to Rs 160 in 2023 and 2024.

What is the land classification for Panayancheri nagar?

Panayancheri nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Panayancheri nagar?

The stamp duty rate in Panayancheri nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

Where can I find the Sub Registrar Office for Panayancheri nagar?

The Sub Registrar Office for Panayancheri nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can visit this office for registration services.