Guideline Value for Panchatcharam Nagar

Panchatcharam Nagar guideline value

The current guideline value of Panchatcharam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Panchatcharam Nagar has changed

The guideline value of Panchatcharam Nagar has seen significant revisions over the years. In 2002, the guideline value was Rs 185 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 1,500 per sq.ft in 2007, representing a substantial increase of 621%. Following this, in 2012, the value rose to Rs 3,500 per sq.ft, which is a 133% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from 2012.

There are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1981%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Panchatcharam Nagar's 2024 figure below that median.

• Pandidurai Street: Rs 3,850 per sq.ft (2024)
• Pandiyan Street: Rs 3,850 per sq.ft (2024)
• Pandiyan Street/Sankaran Nair Avenue: Rs 3,850 per sq.ft (2024)
• Pallipattu Main Road: Rs 3,850 per sq.ft (2024)
• Parameshwaran Street: Rs 3,850 per sq.ft (2024)
• Parasuraman Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, would amount to Rs 2,69,500, while the registration fee, charged at 2%, would be Rs 77,000. Therefore, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panchatcharam Nagar?

The Sub Registrar Office that covers Panchatcharam Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Panchatcharam Nagar?

The current guideline value of Panchatcharam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1981% over this period.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a property valued at Rs 38,50,000, the total cost for stamp duty and registration would be Rs 3,46,500.

Which office handles registrations in Panchatcharam Nagar?

The Velacheri Sub Registrar Office is responsible for property registrations in Panchatcharam Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about guideline values in Velachery?

For more information about guideline values in Velachery, you can refer to the Registration Department's guideline value register available on their official site.