Guideline Value for Justice Pandalai Street

Justice Pandalai Street guideline value

The current guideline value of Justice Pandalai Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Commercial Class I Type - I.

How the guideline value of Justice Pandalai Street has changed

The guideline value for Justice Pandalai Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 2,345 per sq.ft in the 2017 revision. Following that, the value rose to Rs 3,500 per sq.ft in the 2023 revision, and further increased to Rs 3,800 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2023 to 2024, the guideline value increased by 9%. The value saw a substantial increase of 49% from 2017 to 2023. The 2012 to 2017 period experienced a decrease of 33%, while the 2007 to 2012 period marked a significant increase of 192%. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Justice Pandalai Street's 2024 figure above this median.

• Kadhpada 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Kadhpada 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Kadhpada Labour Cross Street: Rs 1,300 per sq.ft (2024)
• Kadhpada Labour Lane: Rs 1,300 per sq.ft (2024)
• Kailaya Lane: Rs 1,300 per sq.ft (2024)
• Jeeva Sowcar Thottam: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Justice Pandalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Justice Pandalai Street?

The Sub Registrar Office that covers Justice Pandalai Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Justice Pandalai Street?

The current guideline value of Justice Pandalai Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 217% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value for the 1,384 streets in Tondaiarpet is Rs 1,600 per sq.ft, with Justice Pandalai Street's value being above this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.