Guideline Value for Pandara street

Pandara street guideline value

The current guideline value of Pandara street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pandara street has changed

The guideline value for Pandara street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a reduction of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to the 2012 level. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for Pandara street.

• Panisuvarar street: Rs 4,950 per sq.ft (2024)
• Paniyatham nagar: Rs 2,200 per sq.ft (2024)
• Palli street: Rs 2,200 per sq.ft (2024)
• Pali Mohandoss Street: Rs 2,200 per sq.ft (2024)
• Palankottai street: Rs 3,250 per sq.ft (2024)
• Palani nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pandara 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, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pandara street?

The Sub Registrar Office that covers Pandara street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is set by the government and reflects the market rates for properties in a given area.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration. This ensures that all transactions are recorded accurately and fairly in accordance with the prevailing rates.

Frequently asked questions

What is the current guideline value of Pandara street?

The current guideline value of Pandara 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in Pandara street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Pandara street?

The Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056, covers Pandara street.

What is the land classification for Pandara street?

Pandara street is classified as Residential Class II Type - I, indicating its designation for residential use within the Poonthamallee village.