Guideline Value for Panjabakesan Street

Panjabakesan Street guideline value

The current guideline value of Panjabakesan Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO with a land classification of Residential Class I Type - II.

How the guideline value of Panjabakesan Street has changed

The guideline value of Panjabakesan Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. However, from 2017 to 2023, the value significantly increased by 49% to Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Panjabakesan Street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value of Panjabakesan Street is below this median.

• Parasakthi Nagar: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Cross Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Main Road: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panjabakesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Panjabakesan Street?

The Sub Registrar Office covering Panjabakesan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Panjabakesan Street?

The current guideline value of Panjabakesan Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Panjabakesan Street?

Panjabakesan Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties on Panjabakesan Street?

Stamp duty for properties on Panjabakesan Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 at a rate of 7%.