Guideline Value for Panneer Selvam Road R.S.No.55 (Part)

Panneer Selvam Road R.S.No.55 (Part) guideline value

The current guideline value of Panneer Selvam Road R.S.No.55 (Part) is Rs 7,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Special Type - III.

How the guideline value of Panneer Selvam Road R.S.No.55 (Part) has changed

Over the years, the guideline value of Panneer Selvam Road R.S.No.55 (Part) has seen significant changes. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 437%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The latest revision in 2024 has set the guideline value at Rs 7,000 per sq.ft, reflecting an increase of 61% from 2017.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 479%.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Panneer Selvam Road R.S.No.55 (Part) above this median.

• Pannaia Maesthri Street Block 76: Rs 3,300 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)
• Parri Nagar, Cheran Street: Rs 5,500 per sq.ft (2024)
• Parri Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Panneer Selvam Road R.S.No.55 (Part)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value is Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost to Rs 6,30,000. 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 Panneer Selvam Road R.S.No.55 (Part)?

The Sub Registrar Office that covers Panneer Selvam Road R.S.No.55 (Part) 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 during the registration process of property transactions in Kodambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Panneer Selvam Road R.S.No.55 (Part)?

The current guideline value of Panneer Selvam Road R.S.No.55 (Part) is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, an overall increase of 479%. There were notable fluctuations, including a decrease from 2012 to 2017.

What is the land classification for Panneer Selvam Road R.S.No.55 (Part)?

The land classification for Panneer Selvam Road R.S.No.55 (Part) is Residential Special Type - III.

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

The Sub Registrar Office for Panneer Selvam Road R.S.No.55 (Part) 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, a property valued at Rs 70,00,000 would incur a stamp duty of Rs 4,90,000 at 7%.