Guideline Value for Paniyatham nagar

Paniyatham nagar guideline value

The current guideline value for Paniyatham nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Paniyatham nagar has changed

The guideline value for Paniyatham nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision raised the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Paniyatham nagar.

• Panisuvarar street: Rs 4,950 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 Paniyatham nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paniyatham nagar?

The Sub Registrar Office that covers Paniyatham nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee 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 is a crucial factor in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and fairly according to the established rates.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the government. This value is essential for legal and financial processes during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Paniyatham nagar?

The current guideline value of Paniyatham nagar is Rs 2,200 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 2,200 per sq.ft in 2024, marking an overall increase of 633% over the years.

What is the land classification of Paniyatham nagar?

Paniyatham nagar is classified as Residential Class II Type - I, indicating its designation for residential use in the area.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. This office handles property registrations in the area.

How is the stamp duty calculated for properties in Paniyatham nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.