Guideline Value for PANDARAM STREET

Pandaram Street guideline value

The current guideline value of Pandaram Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Pandaram Street has changed

The guideline value for Pandaram Street has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then saw a decrease to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023 and is now Rs 5,500 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

Between these revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 150%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current value of Pandaram Street.

• Pandaram Lane: 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 Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 55,00,000. The stamp duty at 7% amounts to Rs 3,85,000, while the registration fee at 2% is Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pandaram Street?

The Sub Registrar Office that covers Pandaram Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered the minimum value for calculating these fees. This ensures that the fees reflect the current market conditions as per the official valuation by the Registration Department.

Frequently asked questions

What is the current guideline value of Pandaram Street?

The current guideline value of Pandaram Street 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 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the land classification of Pandaram Street?

Pandaram Street is classified as Residential Class III Type - I, which indicates its use for residential purposes.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total fee of Rs 4,95,000.