Guideline Value for PANDIAN NAGAR 2nd STREET

PANDIAN NAGAR 2nd STREET guideline value

The current guideline value of PANDIAN NAGAR 2nd STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of PANDIAN NAGAR 2nd STREET has changed

The guideline value for PANDIAN NAGAR 2nd STREET has seen significant changes over the years. In 2003, the value was Rs 247 per sq.ft, which increased dramatically to Rs 1,000 per sq.ft in 2007, marking a 305% increase. The value then rose to Rs 3,000 per sq.ft in 2012, reflecting a 200% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the value surged by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 saw the guideline value increase by 10% to Rs 3,300 per sq.ft. It is important to note that there is no figure available for the year 2002 for this street in the register.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing PANDIAN NAGAR 2nd STREET above this median.

• PANDIAN NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 4th STREET: Rs 3,300 per sq.ft (2024)
• Pandian Nagar: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 5th STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 6th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in PANDIAN NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers PANDIAN NAGAR 2nd STREET?

The Sub Registrar Office that covers PANDIAN NAGAR 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of PANDIAN NAGAR 2nd STREET?

The current guideline value of PANDIAN NAGAR 2nd STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 247 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1236% over the years.

What is the land classification for PANDIAN NAGAR 2nd STREET?

PANDIAN NAGAR 2nd STREET is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Which office handles registrations for this street?

The Neelankarai Sub Registrar Office handles registrations for PANDIAN NAGAR 2nd STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.