Guideline Value for Panchatcharam Nagar

Panchatcharam Nagar guideline value

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

How the guideline value of Panchatcharam Nagar has changed

The guideline value for Panchatcharam Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which then increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. The value then rose sharply to Rs 700 per sq.ft in 2023, and currently stands at Rs 800 per sq.ft from the 2024 revision. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

From 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 represents a 14% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 675 per sq.ft, placing Panchatcharam Nagar's 2024 figure above that median.

• Panchatcharam Nagar Annexe: 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)
• Moogambigai Nagar: Rs 800 per sq.ft (2024)
• Mari Amman Koil Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Panchatcharam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees together to Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panchatcharam Nagar?

The Panchatcharam Nagar area falls under 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 is a crucial factor in the registration process for property transactions in Chinnapanicheri. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value. This helps in maintaining transparency in property dealings, as it reflects the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Panchatcharam Nagar?

The current guideline value of Panchatcharam Nagar 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?

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 registration for Panchatcharam Nagar?

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

What does the guideline value indicate?

The guideline value indicates the minimum value at which a property can be registered in Panchatcharam Nagar, and it is used to calculate the stamp duty and registration fees during property transactions.