Guideline Value for Pandian Street /VOC Nagar

Pandian Street /VOC Nagar guideline value

The current guideline value of Pandian Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Pandian Street /VOC Nagar has changed

The guideline value for Pandian Street /VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft. This increased to Rs 210 per sq.ft in 2003, marking a 14% rise. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 71% increase. The subsequent revision in 2017 saw a dramatic rise to Rs 1,675 per sq.ft, which is an increase of 365%. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from the previous figure. The latest revision in 2024 has set the value at Rs 2,750 per sq.ft, a 10% increase from 2023. Notably, the register has no figure for this street for the year 2012.

Overall, from 2002 to 2024, the guideline value has increased by 1,386%, illustrating the substantial growth in value over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Pandian Street /VOC Nagar above this median value.

• Pandian Street/ Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Paneerselvam Salai: Rs 1,760 per sq.ft (2024)
• Panchayat Colony / Thiruneermalai Main Road: Rs 1,870 per sq.ft (2024)
• Pammal Nalathambi Salai: Rs 2,750 per sq.ft (2024)
• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Dr. Ambedhkar Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Street /VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandian Street /VOC Nagar?

The Sub Registrar Office that covers Pandian Street /VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Pandian Street /VOC Nagar?

The current guideline value of Pandian Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,386%.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Pandian Street/ Muthamzhi Nagar at Rs 2,475 per sq.ft, Paneerselvam Salai at Rs 1,760 per sq.ft, and Pammal Main Road, Pasumpon Nagar at Rs 3,300 per sq.ft, among others.

How is the stamp duty calculated for properties in Pandian Street /VOC Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.

Where can I find the Sub Registrar Office for Pandian Street /VOC Nagar?

The Sub Registrar Office for Pandian Street /VOC Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the official website.