Guideline Value for V.O.SITHAMPARANAR SALAI (WARD -8)

V.O.Sithamparanar Salai (Ward -8) guideline value

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, with a land classification of Residential Special Type - III.

How the guideline value of V.O.Sithamparanar Salai (Ward -8) has changed

The guideline value for V.O.Sithamparanar Salai has seen several revisions over the years. In the 2012 revision, the value was Rs 1,600 per sq.ft. This figure remained unchanged in the 2012 revision and then dropped to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no 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 a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing V.O.Sithamparanar Salai's 2024 figure above that median.

• V.O.C Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 550 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 661 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Yerikkarai Street (Ward -3): Rs 990 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.Sithamparanar Salai (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. 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 information.

Which Sub Registrar Office covers V.O.Sithamparanar Salai (Ward -8)?

The Sub Registrar Office that covers V.O.Sithamparanar Salai (Ward -8) 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 is an essential factor in 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 both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Buyers and sellers must be informed of the current guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of V.O.Sithamparanar Salai (Ward -8)?

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for V.O.Sithamparanar Salai?

The land classification for V.O.Sithamparanar Salai (Ward -8) is Residential Special Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in V.O.Sithamparanar Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.