Guideline Value for PANDIAN NAGAR

Pandian Nagar guideline value

The current guideline value of Pandian Nagar, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Pandian Nagar has changed

The guideline value for Pandian Nagar has seen several revisions over the years. Starting from Rs 92 per sq.ft in 2002, it increased to Rs 109 per sq.ft in 2003, marking an 18% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, a change of 267%. In 2012, the value remained at Rs 1,200 per sq.ft, and this figure was retained until the next revision in 2023.

In 2023, the guideline value was revised to Rs 1,200 per sq.ft, and then it increased by 10% to Rs 1,320 per sq.ft in 2024. Notably, there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,335%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Pandian Nagar's 2024 figure below this median.

• Parameswari Nagar: Rs 1,320 per sq.ft (2024)
• Parasuraman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Parasuram Nagar: Rs 1,650 per sq.ft (2024)
• Parasuram Nagar Extensiont: Rs 1,650 per sq.ft (2024)
• Pari Cross Street: Rs 1,650 per sq.ft (2024)
• Pari Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Pandian Nagar?

The Sub Registrar Office that covers Pandian Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. 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.

When a property is sold, the guideline value helps in assessing the transaction value, as the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pandian Nagar?

The current guideline value of Pandian Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 92 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, representing a total increase of 1,335% over the years.

What is the median guideline value in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is above the current guideline value of Pandian Nagar.

What are the stamp duty and registration fees for property in Pandian Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Pandian Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Pandian Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.