Guideline Value for PANDIAN STREET

Pandian Street guideline value

The current guideline value of Pandian Street in Nemilicherry village is Rs 2,160 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 undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,160 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is the same as the current value for Pandian Street.

• Panchayat Market Colony Road: Rs 1,100 per sq.ft (2024)
• Panchayat Market Colony Lane: Rs 1,100 per sq.ft (2024)
• Paramasivam Nagar: Rs 2,160 per sq.ft (2024)
• Parimala Layout: Rs 1,100 per sq.ft (2024)
• Parri Street: Rs 2,160 per sq.ft (2024)
• Pallavan Trasport Colony: Rs 2,160 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 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration would be Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that both the buyer and seller are aware of the official valuation set by the government, which can influence the transaction process.

Frequently asked questions

What is the current guideline value of Pandian Street?

The current guideline value of Pandian Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Pandian Street?

Pandian Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Pandian Street?

The registration office for Pandian Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties on Pandian Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,51,200.