Guideline Value for Panchayat Colony

Panchayat Colony guideline value

The current guideline value of Panchayat Colony in Tambaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Panchayat Colony has changed

The guideline value for Panchayat Colony has seen several revisions over the years. In 2002, the guideline value was Rs 218 per sq.ft. This increased to Rs 269 per sq.ft in 2003, marking a 23% rise. By 2007, the value further increased to Rs 400 per sq.ft, reflecting a 49% change. The next revision in 2012 saw a decrease to Rs 1,200 per sq.ft, which was a significant drop of 33%. In 2017, the value rose again to Rs 804 per sq.ft, and in 2023, it reached Rs 1,200 per sq.ft. The latest revision in 2024 set the guideline value at Rs 1,320 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 506%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Rs 1,320 per sq.ft for Panchayat Colony is below this median.

• Palm Groove's Residency: Rs 8,250 per sq.ft (2024)
• Pappammal Nagar: Rs 2,200 per sq.ft (2024)
• Park Street: Rs 1,650 per sq.ft (2024)
• Patel Nagar 1-st Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Patel Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Panchayat Colony?

The Panchayat Colony is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process for property transactions in Tambaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is in compliance with local regulations. This value helps in determining the official price at which the property is sold, ensuring transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Panchayat Colony?

The current guideline value of Panchayat Colony is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 218 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 506% over the years.

What are the stamp duty rates for property in Panchayat Colony?

The stamp duty for property in Panchayat Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Panchayat Colony located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

What is the median guideline value in Tambaram?

The median guideline value in Tambaram is Rs 3,300 per sq.ft, while Panchayat Colony's value of Rs 1,320 per sq.ft is below this median.