Guideline Value for PANDIAN STREET

Pandian Street guideline value

The current guideline value of Pandian Street in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Pandian Street has changed

The guideline value for Pandian Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In the 2023 revision, the guideline value was increased to Rs 2,500 per sq.ft, followed by an increase to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% rise. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram comprises 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, making Pandian Street's 2024 guideline value equal to this median.

• P.A. Jaganathan Street: Rs 3,850 per sq.ft (2024)
• P.A. Jaganathan Lane: Rs 3,850 per sq.ft (2024)
• Pensioners Road & Street: Rs 1,650 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Pachyappa Naicken Street: Rs 3,300 per sq.ft (2024)
• Old Trunk Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pandian Street?

The Sub Registrar Office that covers Pandian Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Pandian Street?

The current guideline value of Pandian Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing an overall increase of 8% from 2012 to 2024.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Pandian Street?

The Pallavaram Sub Registrar Office handles registrations for Pandian Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Pandian Street?

Pandian Street is classified as Residential Class II Type - I, indicating its suitability for residential development within the area.