Guideline Value for Pannerselvam Street

Pannerselvam Street guideline value

The current guideline value of Pannerselvam Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, and the land classification is Residential Special Type - II.

How the guideline value of Pannerselvam Street has changed

The guideline value for Pannerselvam Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,700 per sq.ft, which was then reduced to Rs 2,479 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,700 per sq.ft, and the most recent 2024 revision has raised it further to Rs 4,000 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. Pannerselvam Street's 2024 figure of Rs 4,000 per sq.ft is above this median.

• Pannerselvam Cross Street: Rs 4,000 per sq.ft (2024)
• Pandi Street: Rs 4,600 per sq.ft (2024)
• Parthasarathy Street: Rs 4,000 per sq.ft (2024)
• Pallam Street: Rs 6,600 per sq.ft (2024)
• Pattammal Street: Rs 4,600 per sq.ft (2024)
• Pattravakkam Road: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pannerselvam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees together to Rs 3,60,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pannerselvam Street?

The Sub Registrar Office that covers Pannerselvam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value rather than fluctuating market prices.

When a property transaction occurs, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value is essential for the registration of the property, as it helps in assessing the financial obligations associated with the transfer of ownership.

Frequently asked questions

What is the current guideline value of Pannerselvam Street?

The current guideline value of Pannerselvam Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the 2012 revision at Rs 3,700 per sq.ft, decreasing to Rs 2,479 per sq.ft in 2017, and then increasing to Rs 4,000 per sq.ft in 2024.

What is the land classification of Pannerselvam Street?

Pannerselvam Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Which Sub Registrar Office covers Pannerselvam Street?

The Ambattur Sub Registrar Office covers Pannerselvam Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Pannerselvam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,000 per sq.ft, the total guideline value would be Rs 40,00,000, resulting in a stamp duty of Rs 2,80,000.