Guideline Value for Panchayat Colony / Thiruneermalai Main Road

Panchayat Colony / Thiruneermalai Main Road guideline value

The current guideline value for Panchayat Colony / Thiruneermalai Main Road is Rs 1,870 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal SRO with a land classification of Residential Class III Type - I.

How the guideline value of Panchayat Colony / Thiruneermalai Main Road has changed

The guideline value has seen significant changes over the years. In 2002, the value was Rs 225 per sq.ft, which increased to Rs 255 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 570 per sq.ft in 2007, a 124% increase from the previous revision. By 2017, the guideline value had doubled to Rs 1,139 per sq.ft, reflecting a 100% increase. The 2023 revision saw the value rise to Rs 1,700 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, which is a 10% increase from 2023. Notably, there was no figure recorded for this street in the 2012 revision.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 731%. This consistent rise highlights the changing dynamics of property values in the area over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Panchayat Colony / Thiruneermalai Main Road below this median.

• Pammal Nalathambi Salai: Rs 2,750 per sq.ft (2024)
• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Dr. Ambedhkar Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road: Rs 3,300 per sq.ft (2024)
• Pammal Mahasuran Street/ Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Colony / Thiruneermalai Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, making the total cost for these fees Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panchayat Colony / Thiruneermalai Main Road?

The Panchayat Colony / Thiruneermalai Main Road falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. This ensures that the transaction is registered at a fair value as per the government regulations.

When selling property, the guideline value can influence the selling price, as it provides a standard reference point for both buyers and sellers. It is crucial for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Panchayat Colony / Thiruneermalai Main Road?

The current guideline value for Panchayat Colony / Thiruneermalai Main Road is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 225 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 731% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles registrations for this area?

The Pammal Sub Registrar Office handles registrations for Panchayat Colony / Thiruneermalai Main Road, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the classification of land in this area?

The land classification for Panchayat Colony / Thiruneermalai Main Road is Residential Class III Type - I.