Guideline Value for PANDIAN STREET

Pandian Street guideline value

The current guideline value of Pandian Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the commercial class I type - III land classification and is registered with the Manavalanagar Sub Registrar Office.

How the guideline value of Pandian Street has changed

The guideline value for Pandian Street has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it dropped to Rs 871 per sq.ft in 2017, before rising again to Rs 1,300 per sq.ft in both 2023 and 2024. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The most significant rise occurred from 2007 to 2012, with an increase of 767%. 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, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, making Pandian Street's 2024 figure of Rs 1,300 per sq.ft above the median.

• Pandian Street (Ramasamy Nagar): 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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandian Street?

The Pandian Street falls under the jurisdiction of 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 in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties comply with the legal requirements.

It is important to note that the guideline value may differ from the actual sale price of the property. The stamp duty is charged on the higher of the guideline value or the sale price, which means that buyers should be aware of the guideline value when negotiating property transactions.

Frequently asked questions

What is the current guideline value of Pandian Street?

The current guideline value of Pandian Street 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 from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various revisions in between.

What is the land classification for Pandian Street?

Pandian Street is classified as commercial class I type - III.

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

For a 1,000 sq.ft property valued at Rs 1,300 per sq.ft, the total stamp duty and registration fees would amount to Rs 1,17,000.

Which Sub Registrar Office covers Pandian Street?

The Manavalanagar Sub Registrar Office covers Pandian Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.