Guideline Value for Panneer Selvam Street

Panneer Selvam Street guideline value

The current guideline value of Panneer Selvam Street is Rs 1,102 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village and falls under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Panneer Selvam Street has changed

The guideline value for Panneer Selvam Street has seen significant changes over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017. The value rose sharply to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,102 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 451%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which is the same as the current value for Panneer Selvam Street.

• Parivallal Nagar: Rs 1,102 per sq.ft (2024)
• P.A. Koil First Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil 2nd Street: Rs 2,420 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,102 per sq.ft (2024)
• Padma Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Panneer Selvam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,102 per sq.ft, the guideline value amounts to Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040, totaling Rs 99,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Panneer Selvam Street?

The Sub Registrar Office that covers Panneer Selvam Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Panneer Selvam Street?

The current guideline value of Panneer Selvam Street is Rs 1,102 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 200 per sq.ft in 2007 to Rs 1,102 per sq.ft in 2024, marking an overall increase of 451%.

What is the land classification for Panneer Selvam Street?

Panneer Selvam Street is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Panneer Selvam Street located?

The Sub Registrar Office for Panneer Selvam Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Panneer Selvam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,02,000, the stamp duty would be Rs 77,140 at 7%.