Guideline Value for Panchatcharam Nagar Annexe

Panchatcharam Nagar Annexe guideline value

The current guideline value of Panchatcharam Nagar Annexe is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Chinnapanicheri village and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Panchatcharam Nagar Annexe has changed

Over the years, the guideline value for Panchatcharam Nagar Annexe has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This figure increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, it then decreased to Rs 469 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 800 per sq.ft in the 2024 revision, which is a 14% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The value changes between revisions indicate a fluctuating market, with the most significant increase occurring between 2017 and 2023, where the value rose by 49%.

Guideline values in Chinnapanicheri

In Chinnapanicheri village, there are 14 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. Panchatcharam Nagar Annexe's 2024 figure of Rs 800 per sq.ft is above this median.

• Panchatcharam Nagar: Rs 800 per sq.ft (2024)
• Nova Nagar: Rs 550 per sq.ft (2024)
• Pudhupettai street: Rs 550 per sq.ft (2024)
• Muthu Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Moogambigai Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Panchatcharam Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, charged at 7%, would be Rs 56,000, while the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. 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.

Which Sub Registrar Office covers Panchatcharam Nagar Annexe?

The Sub Registrar Office that covers Panchatcharam Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chinnapanicheri. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the guideline value is essential for both buyers and sellers to understand their financial obligations. It is advisable to check the current guideline value before proceeding with any property transaction to avoid surprises during the registration process.

Frequently asked questions

What is the current guideline value of Panchatcharam Nagar Annexe?

The current guideline value of Panchatcharam Nagar Annexe is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for property in Panchatcharam Nagar Annexe?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles property registrations for Panchatcharam Nagar Annexe?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Panchatcharam Nagar Annexe.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is based on the higher of the guideline value or the sale price, ensuring proper revenue collection by the government.