Guideline Value for Paneerselvam Salai

Paneerselvam Salai guideline value

The current guideline value of Paneerselvam Salai is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, with a land classification of Residential Class III Type - II.

How the guideline value of Paneerselvam Salai has changed

The guideline value for Paneerselvam Salai has seen significant changes over the years. In 2002, the guideline value was Rs 125 per sq.ft, which increased to Rs 142 per sq.ft in 2003, marking a 14% rise. The value continued to rise to Rs 260 per sq.ft in 2007, reflecting an 83% increase from the previous revision. By 2017, the value had surged to Rs 1,072 per sq.ft, a remarkable 312% increase from 2007.

The most recent revisions show that the guideline value was Rs 1,600 per sq.ft in 2023, which rose by 10% to Rs 1,760 per sq.ft in 2024. The register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1308%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Paneerselvam Salai's 2024 figure below this median.

• Pandian Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Pandian Street/ Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Panchayat Colony / Thiruneermalai Main Road: Rs 1,870 per sq.ft (2024)
• Parasuraman Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Pammal Nalathambi Salai: Rs 2,750 per sq.ft (2024)
• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Paneerselvam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. 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 Paneerselvam Salai?

The Sub Registrar Office that covers Paneerselvam Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pammal. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing property. These fees are calculated based on the higher of the guideline value or the actual sale price of the property.

This system ensures that the government receives appropriate revenue from property transactions while providing a transparent framework for buyers and sellers. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Paneerselvam Salai?

The current guideline value of Paneerselvam Salai is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 125 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking a total increase of 1308% over the years.

What is the land classification for Paneerselvam Salai?

Paneerselvam Salai is classified as Residential Class III Type - II.

Where can I find the registration office for Paneerselvam Salai?

The registration office for Paneerselvam Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What factors determine the stamp duty and registration fees?

The stamp duty and registration fees are determined based on the guideline value or the sale price of the property, whichever is higher. This ensures that the fees reflect the actual value of the property being transacted.