Guideline Value for Pannaia Maesthri Street Block 76

Pannaia Maesthri Street Block 76 guideline value

The current guideline value for Pannaia Maesthri Street Block 76 is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Pannaia Maesthri Street Block 76 has changed

The guideline value for Pannaia Maesthri Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

There are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. The 2012 revision represented a decrease of 33% from the previous figure in 2017, indicating fluctuations in the guideline value over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Pannaia Maesthri Street Block 76 is below this median.

• Panneer Selvam Road R.S.No.55 (Part): Rs 7,000 per sq.ft (2024)
• Pandara Street (Pookarar Street): Rs 5,500 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 3,300 per sq.ft (2024)
• Park Circle Colony: Rs 2,700 per sq.ft (2024)
• Pallavan Salai (Street): Rs 4,900 per sq.ft (2024)
• Parri Nagar, Cheran Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pannaia Maesthri Street Block 76

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pannaia Maesthri Street Block 76?

The Sub Registrar Office that covers Pannaia Maesthri Street Block 76 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value, as the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pannaia Maesthri Street Block 76?

The current guideline value for Pannaia Maesthri Street Block 76 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Pannaia Maesthri Street Block 76?

The land classification for Pannaia Maesthri Street Block 76 is Residential Class IV Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Pannaia Maesthri Street Block 76 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.