Guideline Value for PANDIAN STREET (RAMASAMY NAGAR)

Pandian Street (Ramasamy Nagar) guideline value

The current guideline value of Pandian Street (Ramasamy Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Pandian Street (Ramasamy Nagar) has changed

Over the years, the guideline value of Pandian Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 150 per sq.ft. This value increased significantly to Rs 1,300 per sq.ft in 2012, marking a substantial rise of 767%. However, the value then decreased to Rs 871 per sq.ft in 2017, reflecting a drop of 33%. From 2017 to 2023, the value increased by 49% back to Rs 1,300 per sq.ft, which has remained unchanged through the 2023 revision to the current 2024 revision.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,000 per sq.ft, placing Pandian Street's 2024 figure above that median.

• Pandian Street: Rs 1,300 per sq.ft (2024)
• Pallavan Street: Rs 1,300 per sq.ft (2024)
• Parry Street: Rs 1,000 per sq.ft (2024)
• Pajanai Koil Street: Rs 1,000 per sq.ft (2024)
• Pachaiyappan Street: Rs 1,000 per sq.ft (2024)
• Ondikuppam Poonamalle Salai 4 Adi Sandhu: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Street (Ramasamy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee at 2% would amount to Rs 26,000, bringing the total fees to Rs 1,17,000. 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 Street (Ramasamy Nagar)?

The Sub Registrar Office covering Pandian Street (Ramasamy Nagar) is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider the guideline value when negotiating sale prices to comply with legal requirements.

When a property is sold, the guideline value helps in assessing the applicable stamp duty, which is calculated based on the higher of the guideline value or the actual sale price. This ensures that all transactions are conducted transparently and fairly in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Pandian Street?

The current guideline value of Pandian Street (Ramasamy Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times since 2007, with the most significant increase occurring from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012. The value has remained at Rs 1,300 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification for Pandian Street?

Pandian Street is classified as Commercial Class I Type - III, which reflects its zoning and intended use for commercial activities.

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

The stamp duty for a property valued at Rs 13,00,000 is Rs 91,000, while the registration fee amounts to Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for Pandian Street?

The Sub Registrar Office for Pandian Street (Ramasamy Nagar) is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.