Guideline Value for Pandian Street

Pandian Street guideline value

The current guideline value of Pandian Street, located in Meenambakkam village, is Rs 3,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification within the Pammal SRO.

How the guideline value of Pandian Street has changed

The guideline value for Pandian Street has seen significant changes over the years. In 2002, the value was Rs 195 per sq.ft, which increased to Rs 228 per sq.ft in 2003, reflecting a change of 17%. The value then rose to Rs 340 per sq.ft in 2007, marking a 49% increase. By 2017, the guideline value had surged to Rs 2,010 per sq.ft, showing a dramatic rise of 491% from the previous revision. The 2023 revision set the value at Rs 3,000 per sq.ft, which was a 49% increase from 2017.

With the latest revision in 2024, the guideline value has increased to Rs 3,300 per sq.ft, representing a 10% rise from the 2023 figure. The register has no figure for Pandian Street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1,592%.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Pandian Street's 2024 figure is below that median.

• Oowaiyar Street: Rs 3,300 per sq.ft (2024)
• Rajeev Gandhi Street: Rs 1,650 per sq.ft (2024)
• Kumaran Street: Rs 3,850 per sq.ft (2024)
• Kasi Garden: Rs 3,850 per sq.ft (2024)
• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• G.S.T. Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total costs to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on costs, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pandian Street?

The Sub Registrar Office that covers Pandian Street 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 details.

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

The guideline value is a crucial factor when buying or selling property in Meenambakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property transaction occurs, the guideline value is used to determine the amount of duty payable. This ensures that both parties are aware of their financial obligations during the registration of the property, making it essential for a smooth transaction.

Frequently asked questions

What is the current guideline value of Pandian Street?

The current guideline value of Pandian Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 195 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,592% over the years.

What is the land classification for Pandian Street?

Pandian Street falls under the Residential Class II Type - I land classification.

Where is the Sub Registrar Office for Pandian Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pandian Street?

Stamp duty for properties in Pandian Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft incurs a total guideline value of Rs 33,00,000.