Guideline Value for Panisuvarar street

Panisuvarar street guideline value

The current guideline value of Panisuvarar street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO and is classified as Commercial Class I Type - I.

How the guideline value of Panisuvarar street has changed

The guideline value for Panisuvarar street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 1025%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 4,500 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1138%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Panisuvarar street's 2024 figure above this median.

• Paniyatham nagar: Rs 2,200 per sq.ft (2024)
• Pandara street: Rs 2,200 per sq.ft (2024)
• Palli street: Rs 2,200 per sq.ft (2024)
• Pali Mohandoss Street: Rs 2,200 per sq.ft (2024)
• Palankottai street: Rs 3,250 per sq.ft (2024)
• Patavattamman koil street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Panisuvarar street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Panisuvarar street?

The Sub Registrar Office that covers Panisuvarar street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Panisuvarar street?

The current guideline value of Panisuvarar street is Rs 4,950 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 400 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1138% over the years.

What is the land classification of Panisuvarar street?

Panisuvarar street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000.