Guideline Value for Pandian Salai 2nd Cross Street

Pandian Salai 2nd Cross Street guideline value

The current guideline value of Pandian Salai 2nd 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 2nd Cross Street has changed

The guideline value for Pandian Salai 2nd Cross Street has undergone several revisions since 2002. In 2002, the value was Rs 339 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a substantial increase to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before rising again to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 was 10%. The largest change occurred between 2007 and 2012, with an increase of 471%. Overall, from 2002 to 2024, the guideline value has increased by 1198%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry 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, positioning Pandian Salai 2nd Cross Street above this median.

• Pandian Salai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Pandian Salai Last Cross Street: Rs 4,400 per sq.ft (2024)
• Pandian Salai: 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 2nd 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, leading to a total of Rs 3,96,000. 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 specific calculations.

Which Sub Registrar Office covers Pandian Salai 2nd Cross Street?

The Sub Registrar Office covering Pandian Salai 2nd 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 more details.

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

The guideline value is crucial during the registration process when buying or selling property in Neelankarai. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the correct fees are applied. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pandian Salai 2nd Cross Street?

The current guideline value of Pandian Salai 2nd 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 stamp duty and registration fees for property transactions?

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 Neelankarai located?

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

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, with Pandian Salai 2nd Cross Street's value being above this median.