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Guideline Value

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Guideline Value for RAIL NAGAR, 1ST STREET (WARD -2)

₹661/sq.ft.

The guideline value for Rail Nagar, 1st 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, 1st Street (ward -2)

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Rail Nagar, 1st Street (Ward -2) guideline value

The current guideline value for Rail Nagar, 1st 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, and is classified as Residential Class I Type - I.

How the guideline value of Rail Nagar, 1st Street (Ward -2) has changed

The guideline value for Rail Nagar, 1st Street (Ward -2) 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, representing a reduction of 33%. The value continued to decline, reaching Rs 600 per sq.ft in 2023, which is a 10% decrease from the previous figure. The most recent revision in 2024 shows an increase to Rs 661 per sq.ft, marking a 10% rise from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has decreased by 34%.

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 guideline value for these streets is Rs 990 per sq.ft, indicating that the 2024 figure for Rail Nagar, 1st Street (Ward -2) is below this median.

Stamp duty and registration fee for property in Rail Nagar, 1st 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, totaling Rs 59,490. 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 additional calculations.

Which Sub Registrar Office covers Rail Nagar, 1st Street (Ward -2)?

The Sub Registrar Office that covers Rail Nagar, 1st Street (Ward -2) is the Chengleput Joint II Sub Registrar Office, 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

When buying or selling property in Panangottur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the transaction. It is advisable to check the latest guideline value before proceeding with any property transactions to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value for Rail Nagar, 1st Street (Ward -2)?

The current guideline value for Rail Nagar, 1st 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, 1st Street (Ward -2)?

Rail Nagar, 1st Street (Ward -2) is classified as Residential Class I Type - I.

Where can I find the Chengleput Joint II SRO?

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

How is stamp duty calculated for properties in Rail Nagar, 1st Street (Ward -2)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 46,270.