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Guideline Value

Corporate

Guideline Value for Panchayat Market Colony Road

₹1100/sq.ft.

The guideline value for Panchayat Market Colony Road 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 Road

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Panchayat Market Colony Road guideline value

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

How the guideline value of Panchayat Market Colony Road has changed

Over the years, the guideline value for Panchayat Market Colony Road has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and it has now increased by 10% to Rs 1,100 per sq.ft in the 2024 revision.

In summary, the guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nemilicherry

Nemilicherry village has a total of 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 for Panchayat Market Colony Road is below this median.

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

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 amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Panchayat Market Colony Road?

The Panchayat Market Colony Road falls under the jurisdiction of 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 the basis for calculating the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

When a property is sold, the guideline value helps determine the minimum sale price for the transaction. This ensures that the property is registered at a value that reflects its worth according to the local government standards.

Frequently asked questions

What is the current guideline value for Panchayat Market Colony Road?

The current guideline value for Panchayat Market Colony Road 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, with various revisions occurring in between, including a decrease and subsequent increases.

What is the land classification for Panchayat Market Colony Road?

Panchayat Market Colony Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

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

How is stamp duty calculated on properties in Nemilicherry?

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