Guideline Value for Pandian Salai 1st Cross Street

Pandian Salai 1st Cross Street guideline value

The current guideline value of Pandian Salai 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pandian Salai 1st Cross Street has changed

The guideline value for Pandian Salai 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 339 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then a dramatic increase to Rs 4,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,680 per sq.ft before climbing back to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +9%; from 2003 to 2007, it rose by +90%; from 2007 to 2012, there was an increase of +471%; from 2012 to 2017, it decreased by -33%; from 2017 to 2023, the value increased by +49%; and finally, from 2023 to 2024, it rose by +10%. Overall, from 2002 to 2024, the guideline value has increased by +1198%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the 2024 guideline value of Pandian Salai 1st Cross Street above this median.

• Pandian Salai: Rs 4,400 per sq.ft (2024)
• Pandian Salai 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Pandian Salai Last Cross Street: Rs 4,400 per sq.ft (2024)
• P.D.N.Salai: Rs 4,400 per sq.ft (2024)
• Periya Neelankarai Kuppam: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 10th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Salai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pandian Salai 1st Cross Street?

The Sub Registrar Office that covers Pandian Salai 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical component during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Pandian Salai 1st Cross Street?

The current guideline value of Pandian Salai 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 339 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1198% over the years.

What are the other streets in Neelankarai with similar guideline values?

Other streets in Neelankarai with the same guideline value of Rs 4,400 per sq.ft include Pandian Salai 2nd Cross Street, Pandian Salai Last Cross Street, and P.D.N.Salai.

What are the stamp duty and registration fees for properties in Pandian Salai 1st Cross Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Pandian Salai 1st Cross Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.