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Guideline Value

Corporate

Guideline Value for RAIL NAGAR 8ND STREET (WARD -2)

₹661/sq.ft.

The guideline value for Rail Nagar 8nd 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 8nd Street (ward -2)

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Rail Nagar 8nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 8nd Street (Ward -2) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rail Nagar 8nd Street (Ward -2) has changed

The guideline value for Rail Nagar 8nd Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In 2023, the value further dropped to Rs 600 per sq.ft, reflecting a 10% decrease from the previous revision. The latest revision in 2024 has increased the value to Rs 661 per sq.ft, which is a 10% rise from 2023. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the 2024 guideline value of Rail Nagar 8nd Street below this median.

Stamp duty and registration fee for property in Rail Nagar 8nd Street (Ward -2)

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

Which Sub Registrar Office covers Rail Nagar 8nd Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers Rail Nagar 8nd Street (Ward -2). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 is a crucial factor during the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the 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 guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions, maintaining transparency and consistency in the registration process.

Frequently asked questions

What is the current guideline value of Rail Nagar 8nd Street (Ward -2)?

The current guideline value of Rail Nagar 8nd 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 670 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

What is the land classification for Rail Nagar 8nd Street (Ward -2)?

The land classification for Rail Nagar 8nd Street (Ward -2) is Residential Class I Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rail Nagar 8nd Street (Ward -2)?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,270.