Guideline Value for PANDIYAN STREET

Pandiyan Street guideline value

The current guideline value of Pandiyan Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Pandiyan Street has changed

The guideline value for Pandiyan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following that, the value rose significantly to Rs 2,000 per sq.ft in 2023, and currently, it stands at Rs 2,200 per sq.ft as of the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current value of Pandiyan Street.

• Pallavan Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Nethaji Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pandiyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. Please 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 Pandiyan Street?

The Sub Registrar Office that covers Pandiyan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Jelandianpettai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. This ensures that the transaction is recorded at a fair value, as per the government regulations, safeguarding both the buyer and seller in the process.

Frequently asked questions

What is the current guideline value of Pandiyan Street?

The current guideline value of Pandiyan Street is Rs 2,200 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 to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

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

Other streets in Jelandianpettai include Pallavan Street and Pallavan Nagar Main Rod, both at Rs 2,200 per sq.ft, while Pallavan Nagar Nethaji Street, Pallavan Nagar 6th Street, Pallavan Nagar 5th Street, and Pallavan Nagar 4th Street have values of Rs 1,870 per sq.ft.

What is the stamp duty rate for properties in Pandiyan Street?

The stamp duty rate for properties in Pandiyan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pandiyan Street?

The Sub Registrar Office for Pandiyan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.