Guideline Value for Pandian St ( Ward No.17 )

Pandian St ( Ward No.17 ) guideline value

The current guideline value of Pandian St ( Ward No.17 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pandian St ( Ward No.17 ) has changed

The guideline value for Pandian St has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%. The most recent change from 2023 to 2024 represents a 10% increase in the guideline value.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 1,600 per sq.ft, placing Pandian St's 2024 figure above this median.

• Pandiyan Street: Rs 2,200 per sq.ft (2024)
• Parasakthi Nagar: Rs 1,600 per sq.ft (2024)
• Pallavan St ( Ward No.28 ): Rs 1,600 per sq.ft (2024)
• Parasuraman Nagar: Rs 1,300 per sq.ft (2024)
• Parasuram Nagar (Ponniamman Medu) (Ward-24): Rs 1,300 per sq.ft (2024)
• Parimalam Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian St ( Ward No.17 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pandian St ( Ward No.17 )?

The Sub Registrar Office that covers Pandian St ( Ward No.17 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pandian St ( Ward No.17 )?

The current guideline value of Pandian St ( Ward No.17 ) 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Pandian St?

Pandian St is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.