Guideline Value for THE PANJAMABAL NAGAR

The Panjamabal Nagar guideline value

The current guideline value of The Panjamabal Nagar is Rs 802 per sq.ft, effective from 1 July 2024. This area is located in Mitnamalle village and falls under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of The Panjamabal Nagar has changed

The guideline value for The Panjamabal Nagar has undergone several revisions over the years. The earliest revision available is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased to Rs 600 per sq.ft in 2023, and finally, it has risen to Rs 802 per sq.ft in the 2024 revision, marking a significant increase of 34% from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 34%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft. The median value among these streets is Rs 802 per sq.ft, which is equal to the guideline value of The Panjamabal Nagar.

• Thirowbathy Amman Koil St: Rs 806 per sq.ft (2024)
• Thiruvallur St: Rs 804 per sq.ft (2024)
• St.Maichels Nagar: Rs 802 per sq.ft (2024)
• Sri Sapthagiri Nagar: Rs 808 per sq.ft (2024)
• Udhaya Sooriyan Nagar: Rs 806 per sq.ft (2024)
• Sri Ram Avenue: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in The Panjamabal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, and the registration fee at 2% would be Rs 16,040, bringing the total cost for these fees to Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers The Panjamabal Nagar?

The Panjamabal Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mitnamalle, as it determines the official value of the property for registration purposes. The value is used to calculate the applicable stamp duty and registration fees, which are mandatory during the property transaction process.

When registering a property, buyers must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies. This ensures that the transaction is compliant with local regulations and that all fees are accurately assessed based on the established guideline value.

Frequently asked questions

What is the current guideline value of The Panjamabal Nagar?

The current guideline value of The Panjamabal Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 802 per sq.ft in 2024.

What is the land classification of The Panjamabal Nagar?

The Panjamabal Nagar is classified as Residential Class II Type - I.

Where can I find the registration office for The Panjamabal Nagar?

The registration office for The Panjamabal Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in The Panjamabal Nagar?

The stamp duty for properties in The Panjamabal Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.