Guideline Value for PANDARAM LANE

Pandaram Lane guideline value

The current guideline value of Pandaram Lane in Purasaivakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Pandaram Lane has changed

The guideline value for Pandaram Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, from 2007 to 2012, there was an increase of 178%. However, from 2012 to 2017, the value dropped by 33%. The value then surged by 49% from 2017 to 2023, followed by a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

Purasaivakkam has a total of 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for the area is Rs 5,500 per sq.ft, which is the same as the current value for Pandaram Lane.

• Pandaram Street: Rs 5,500 per sq.ft (2024)
• Pandurangan Koil Street: Rs 5,500 per sq.ft (2024)
• Parasuraman Street: Rs 5,500 per sq.ft (2024)
• Parthasarathy Street: Rs 5,500 per sq.ft (2024)
• Payila Pachiappan Street: Rs 3,800 per sq.ft (2024)
• Paddy Field 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pandaram Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is calculated at 7%, which totals Rs 3,85,000, while the registration fee is 2%, amounting to Rs 1,10,000. Together, the total charges would be Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pandaram Lane?

The Sub Registrar Office that covers Pandaram Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pandaram Lane?

The current guideline value of Pandaram Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Pandaram Lane?

Pandaram Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Pandaram Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.