Guideline Value

Corporate

Guideline Value for Panchayat Market Colony Lane

₹1100/sq.ft.

The guideline value for Panchayat Market Colony Lane in Nemilicherry village (Pallavaram SRO, Chengalpattu zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Nemilicherry

Village

Pallavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹670 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044
044-22413425
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Panchayat Market Colony Lane

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Panchayat Market Colony Lane guideline value

The current guideline value of Panchayat Market Colony Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Panchayat Market Colony Lane has changed

The guideline value for Panchayat Market Colony Lane has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value of Panchayat Market Colony Lane is below this median.

Stamp duty and registration fee for property in Panchayat Market Colony Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panchayat Market Colony Lane?

The Panchayat Market Colony Lane falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees payable to the government, ensuring that the transaction is documented at a fair value.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable 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 Panchayat Market Colony Lane?

The current guideline value of Panchayat Market Colony Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Panchayat Market Colony Lane?

Panchayat Market Colony Lane is classified as Residential Class III Type - I under the Pallavaram SRO.

Where can I find the registration office for Panchayat Market Colony Lane?

The registration office for Panchayat Market Colony Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.