Guideline Value for PANDIYAN STREET

Pandiyan Street guideline value

The current guideline value of Pandiyan Street in Medavakkam village is Rs 1,870 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Pandiyan Street has changed

The guideline value for Pandiyan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was then reduced to Rs 1,139 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,700 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,870 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but the overall change from 2012 to 2024 reflects a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Pandiyan Street's 2024 value below that median.

• Panneer Street: Rs 2,200 per sq.ft (2024)
• Parasuram Avenue: Rs 2,200 per sq.ft (2024)
• Parasuram Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Parasuram Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Pallavan Street: Rs 1,870 per sq.ft (2024)
• Patel Company Salai: Rs 2,200 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 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. 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 detailed calculations.

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the sale price is compared to the guideline value, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Pandiyan Street?

The current guideline value of Pandiyan Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pandiyan Street has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for Pandiyan Street?

Pandiyan Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties in Pandiyan Street?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

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.