Guideline Value for Pandian Salai

Pandian Salai guideline value

The current guideline value of Pandian Salai 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 has changed

The guideline value for Pandian Salai has undergone several revisions over the years. In 2002, the value was Rs 339 per sq.ft, which increased to Rs 450 per sq.ft in 2003. By 2007, the value saw a significant rise to Rs 700 per sq.ft, and then it jumped to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023 before reaching the current figure of Rs 4,400 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +33%. The value rose by +56% from 2003 to 2007. The jump from 2007 to 2012 was +471%, but then it decreased by -33% from 2012 to 2017. Following that, there was a +49% increase from 2017 to 2023, and finally, the value increased by +10% from 2023 to 2024. 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, placing the 2024 guideline value of Pandian Salai above this median.

• Pandian Salai 1st Cross Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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, making the total fees together 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Pandian Salai?

The Sub Registrar Office that covers Pandian Salai 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 online for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pandian Salai?

The current guideline value of Pandian Salai 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 this period.

What is the median guideline value in Neelankarai?

The median guideline value for the streets in Neelankarai is Rs 2,200 per sq.ft, with Pandian Salai's 2024 value being above this median.

What are the stamp duty and registration fees for property in Pandian Salai?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fees at Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Pandian Salai located?

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