Guideline Value for PANDIAN NAGAR

Pandian Nagar guideline value

The current guideline value of Pandian Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Pandian Nagar has changed

The guideline value for Pandian Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024. The changes between these revisions include a decrease of 33% from 2012 to 2017, a substantial increase of 49% from 2017 to 2023, and a rise of 13% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 13%.

The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Pandian Nagar below this median.

• Panchayat Road: Rs 3,300 per sq.ft (2024)
• Pamban Baba Nagar: Rs 2,200 per sq.ft (2024)
• Palmera Garden: Rs 1,700 per sq.ft (2024)
• Pallavan Street: Rs 3,300 per sq.ft (2024)
• Pallavan Nagar & P.T.C.Quarters: Rs 3,900 per sq.ft (2024)
• PALLAVAN KUDI IRUPPU VIA 2nd STREET 3rd STREET: Rs 3,900 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pandian Nagar?

The Sub Registrar Office covering Pandian Nagar 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 Okkiyamthuraipakkam

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Pandian Nagar?

The current guideline value of Pandian Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Pandian Nagar?

Pandian Nagar is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Pandian Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.