Guideline Value for PANDIYAN NAGAR (VAL)

Pandiyan Nagar (Val) guideline value

The current guideline value of Pandiyan Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Pandiyan Nagar (Val) has changed

The guideline value for Pandiyan Nagar (Val) has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 800 per sq.ft in the 2023 revision, and the latest revision in 2024 raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, making the current guideline value of Rs 880 per sq.ft for Pandiyan Nagar (Val) above this median.

• Parasakthi Street (Ward-20): Rs 880 per sq.ft (2024)
• Pajanaikoil Street Potheri (Ward-20): Rs 1,100 per sq.ft (2024)
• Padma Nagar (Ward -1): Rs 1,650 per sq.ft (2024)
• Periyar Street (Ward-20): Rs 770 per sq.ft (2024)
• Perumal Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Ottakoothar Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Pandiyan Nagar (Val)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandiyan Nagar (Val)?

The Sub Registrar Office that covers Pandiyan Nagar (Val) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konathi. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer and seller must consider the guideline value to determine the appropriate fees due at registration. This ensures that all transactions are documented accurately and comply with local regulations.

Frequently asked questions

What is the current guideline value of Pandiyan Nagar (Val)?

The current guideline value of Pandiyan Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Pandiyan Nagar (Val)?

Pandiyan Nagar (Val) is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Pandiyan Nagar (Val)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Pandiyan Nagar (Val)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000.