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Guideline Value

Corporate

Guideline Value for RAIL NAGAR 6ND STREET (WARD -2)

₹661/sq.ft.

The guideline value for Rail Nagar 6nd Street (ward -2) in Panangottur village (Chengleput Joint Ii SRO, Chengalpattu zone) is Rs 661 per sq.ft, effective 1 July 2024. It was Rs 600 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Panangottur

Village

Chengleput Joint II

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹661 /sq.ft.
From 1-4-2023 ₹600 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹670 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

10, Kancheepuram Main Road, Chengalpattu 603 002.
044-27422003
[email protected]

DRO (District Registrar Office)

No.10, Kancheepuram High Road, Chengalpet - 603002
044-27423692
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Rail Nagar 6nd Street (ward -2)

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Rail Nagar 6nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 6nd Street (Ward -2) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Rail Nagar 6nd Street (Ward -2) has changed

The guideline value for Rail Nagar 6nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a significant decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In 2023, the guideline value further dropped to Rs 600 per sq.ft, reflecting a 10% decrease from the previous revision. The current value, effective from 1 July 2024, is Rs 661 per sq.ft, which represents a 10% increase from the 2023 figure. Notably, the register has no figure for the years 2002, 2003, and 2007.

Overall, the guideline value has decreased by 34% from the 2012 figure to the current 2024 value. The fluctuations in the guideline value illustrate the changes over the years as the area has seen various adjustments in property rates.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value in this area is Rs 990 per sq.ft, indicating that the guideline value of Rail Nagar 6nd Street is below this median.

Stamp duty and registration fee for property in Rail Nagar 6nd Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 661 per sq.ft, the total guideline value amounts to Rs 6,61,000. The stamp duty at 7% would be Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total cost for these fees to Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rail Nagar 6nd Street (Ward -2)?

The Sub Registrar Office that covers Rail Nagar 6nd Street (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Panangottur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized property value rather than individual sale prices.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rail Nagar 6nd Street (Ward -2)?

The current guideline value of Rail Nagar 6nd Street (Ward -2) is Rs 661 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 661 per sq.ft in 2024, reflecting a 34% decrease overall. The value saw fluctuations, including a drop to Rs 670 per sq.ft in 2017 and Rs 600 per sq.ft in 2023.

What is the stamp duty rate for properties in Rail Nagar 6nd Street (Ward -2)?

The stamp duty rate for properties in Rail Nagar 6nd Street (Ward -2) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area.

What is the land classification for Rail Nagar 6nd Street (Ward -2)?

Rail Nagar 6nd Street (Ward -2) is classified as Residential Class I Type - I, indicating its suitability for residential development.