Guideline Value for PANDURANGAPURAM

Pandurangapuram guideline value

The current guideline value of Pandurangapuram, located in Padi village under the Villivakkam SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - III.

How the guideline value of Pandurangapuram has changed

The guideline value for Pandurangapuram has seen several revisions over the years. Starting from Rs 333 per sq.ft in 2002, the value increased to Rs 375 per sq.ft in 2003, marking a 13% rise. In 2007, the value surged to Rs 850 per sq.ft, reflecting a significant increase of 127%. The value then rose to Rs 2,700 per sq.ft in 2012, which was an increase of 218%. However, it dropped to Rs 1,809 per sq.ft in 2017, showing a decrease of 33%. The next revision in 2023 saw the value rise to Rs 2,700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, a 4% increase.

Overall, from 2002 to 2024, the guideline value has increased by 741%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value of Pandurangapuram is below this median.

• Pandurangapuram 6th Street: Rs 2,800 per sq.ft (2024)
• Pancharathna Flats: Rs 8,200 per sq.ft (2024)
• Park Road: Rs 9,700 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'AMMAN KOIL STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'ANNA 1ST STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pandurangapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 information.

Which Sub Registrar Office covers Pandurangapuram?

The Sub Registrar Office that covers Pandurangapuram is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Padi. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory costs incurred when registering a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty. This ensures that the registration process is transparent and aligns with the established values in the area.

Frequently asked questions

What is the current guideline value of Pandurangapuram?

The current guideline value of Pandurangapuram is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 333 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 741%.

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

Other streets in Padi include Pandurangapuram 6th Street at Rs 2,800 per sq.ft, Pancharathna Flats at Rs 8,200 per sq.ft, and Park Road at Rs 9,700 per sq.ft, among others.

What fees are associated with buying property in Pandurangapuram?

When buying property in Pandurangapuram, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pandurangapuram located?

The Sub Registrar Office for Pandurangapuram is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.