Guideline Value for Pannerselvam Street

Pannerselvam Street guideline value

The current guideline value of Pannerselvam Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Pannerselvam Street has changed

The guideline value for Pannerselvam Street has seen several revisions over the years. In 2003, the value was Rs 164 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The value then rose dramatically to Rs 2,200 per sq.ft in 2012, before dropping to Rs 1,474 per sq.ft in 2017. Following this, the value increased to Rs 2,200 per sq.ft in 2023, and finally reached Rs 2,400 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The revision from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was substantial at 267%. The increase from 2003 to 2007 was also notable at 266%. Overall, from 2003 to 2024, the guideline value has increased by 1363%. The register has no figure for the year 2002 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, where the median is Rs 2,200 per sq.ft. Pannerselvam Street's 2024 guideline value is above this median.

• Pandiyan Street (Pudur): Rs 2,400 per sq.ft (2024)
• Pandiyan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Pandi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pandi Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Pandalamman Street: Rs 1,400 per sq.ft (2024)
• Parameswaran Street (S.V.Nagar): Rs 1,900 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 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total fees Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pannerselvam Street?

Pannerselvam Street is covered by 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 Oragadam

The guideline value is an essential factor when registering a property in Oragadam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is crucial to ensure that the sale price is not lower than the guideline value, as the registration authorities will assess the fees based on the higher of the two values. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pannerselvam Street?

The current guideline value of Pannerselvam Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 164 per sq.ft in 2003 to Rs 2,400 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and significant increases in other years.

What is the registration office for Pannerselvam Street?

The registration office for 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.

How is stamp duty calculated for properties in Pannerselvam Street?

Stamp duty for properties in Pannerselvam Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a stamp duty of Rs 1,68,000.

What are the guideline values of other streets in Oragadam?

Other streets in Oragadam have varying guideline values, ranging from Rs 1,100 to Rs 3,500 per sq.ft. For instance, Pandiyan Street (Pudur) and Pandiyan Street (Prakash Nagar) both have a guideline value of Rs 2,400 per sq.ft in 2024.