Guideline Value for PANDIYAN NAGAR (VAL)

Pandiyan Nagar (Val) guideline value

The current guideline value of Pandiyan Nagar (Val) is Rs 881 per sq.ft, effective from 1 July 2024. This area is located in Thailavaram village under the Chengleput Joint II SRO, 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 earliest recorded figure is from 2012, which was Rs 800 per sq.ft. This value remained the same until the next revision in 2017, where it decreased to Rs 536 per sq.ft. In 2023, the value increased significantly to Rs 800 per sq.ft, and in the latest revision for 2024, it rose again to Rs 881 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram village, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Pandiyan Nagar (Val) is above this median.

• Parasakthi Street (Ward-20): Rs 881 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 881 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 guideline value of Rs 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, and the registration fee at 2% would be Rs 17,620, making the total cost for these fees Rs 79,290. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must consider this value to understand their financial obligations during the property registration process.

Frequently asked questions

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

The current guideline value of Pandiyan Nagar (Val) is Rs 881 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 back to Rs 800 per sq.ft in 2023, and finally to Rs 881 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 under the Chengleput Joint II SRO.

What are the other streets in Thailavaram with their guideline values?

Other streets in Thailavaram include Parasakthi Street, Pajanaikoil Street Potheri, Padma Nagar, Periyar Street, Perumal Koil Street, and Ottakoothar Street, with guideline values ranging from Rs 770 to Rs 1,650 per sq.ft in 2024.

How is 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 881 per sq.ft, the total guideline value would be Rs 8,81,000, with applicable fees calculated accordingly.