Guideline Value for Pandara Street

Pandara Street guideline value

The current guideline value of Pandara Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Pandara Street has changed

The guideline value of Pandara Street has seen significant changes over the years. In 2002, the value was Rs 481 per sq.ft, which increased to Rs 526 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,250 per sq.ft in 2007, marking an increase of 138%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2012, an increase of 140%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023 before reaching the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 586%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values in 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Pandara Street's 2024 figure below this median.

• Panchayat Road: Rs 2,750 per sq.ft (2024)
• Pari Street: Rs 3,300 per sq.ft (2024)
• Parthasarathy Street: Rs 4,950 per sq.ft (2024)
• Palaniandavar Koil Street: Rs 5,500 per sq.ft (2024)
• Palaniandavar Koil Sannadi Street: Rs 5,500 per sq.ft (2024)
• Pasikara Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pandara Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pandara Street?

The Sub Registrar Office covering Pandara Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pandara Street?

The current guideline value of Pandara Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 481 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 586%.

What is the registration office for Pandara Street?

The registration office for Pandara Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Pandara Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

What are the guideline values of other streets in Saligramam?

Other streets in Saligramam have varying guideline values, with rates ranging from Rs 2,750 to Rs 13,200 per sq.ft in 2024. For example, Panchayat Road has a value of Rs 2,750 per sq.ft, while Parthasarathy Street is valued at Rs 4,950 per sq.ft.