Guideline Value for Pandian Avenue

Pandian Avenue guideline value

The current guideline value of Pandian Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Pandian Avenue has changed

The guideline value for Pandian Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, it then decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and this has remained unchanged into the 2024 revision.

Between the revisions, the guideline value experienced notable changes. From 2017 to 2023, there was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 390%. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Pandian Avenue's 2024 guideline value aligns with this median.

• Pearl Enclave: Rs 1,200 per sq.ft (2024)
• Padbanaban Avenue: Rs 1,201 per sq.ft (2024)
• Periyar Street: Rs 1,200 per sq.ft (2024)
• Om Vasan Nagar: Rs 1,200 per sq.ft (2024)
• Perumal Nagar: Rs 1,201 per sq.ft (2024)
• Perumal Nagar Extn - I: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pandian Avenue?

The Sub Registrar Office covering Pandian Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pandian Avenue?

The current guideline value of Pandian Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with significant changes noted from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, and it has remained at Rs 1,200 per sq.ft in the 2023 and 2024 revisions.

What is the land classification for Pandian Avenue?

Pandian Avenue is classified as Commercial Special Type - I, which indicates its designated use within the area.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price, again depending on which is higher.

Where can I find the Sub Registrar Office for Pandian Avenue?

The Gooduvancheri Sub Registrar Office covers Pandian Avenue and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.