Guideline Value for PANDIYAN NAGAR (VAL)

Pandiyan Nagar (Val) guideline value

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

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

Over the years, the guideline value of Pandiyan Nagar (Val) has seen several revisions. In 2012, the guideline value was set at Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current guideline value of Rs 880 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the values from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Pandiyan Nagar (Val) above this median with its current guideline value of Rs 880 per sq.ft.

• 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 guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600. Therefore, the total cost for stamp duty and registration would be Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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, 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 Vallancheri

The guideline value is a critical factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the guideline value is used to assess the applicable charges. Buyers and sellers should be aware that the stamp duty is levied on the higher amount between the guideline value and the sale price, which can significantly affect the overall cost of the transaction.

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 increased 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) falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for property in Pandiyan Nagar (Val)?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 8,80,000, with a stamp duty of Rs 61,600 and a registration fee of Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Pandiyan Nagar (Val)?

The Chengleput Joint II Sub Registrar Office handles registrations for Pandiyan Nagar (Val), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.