Guideline Value for Pandithar Street

Pandithar Street guideline value

The current guideline value of Pandithar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and falls under Residential Class I Type - III land classification.

How the guideline value of Pandithar Street has changed

The guideline value for Pandithar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and from 2012 to 2017, it saw a decline of 33%. Overall, the guideline value increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam village, there are 548 streets listed under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Pandithar Street.

• Paranar Street: Rs 2,750 per sq.ft (2024)
• Pamban Swamigal Street: Rs 3,850 per sq.ft (2024)
• Pamban Swamigal salai: Rs 2,750 per sq.ft (2024)
• Pamban Swamigal Cross Street: Rs 2,750 per sq.ft (2024)
• Pamban C.V. Raman Street: Rs 2,750 per sq.ft (2024)
• Pari Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pandithar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandithar Street?

The Sub Registrar Office that covers Pandithar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor when buying or selling property in Chitlapakkam, as it determines the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is used to assess the official value of the property for registration purposes.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the necessary fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Pandithar Street?

The current guideline value of Pandithar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Pandithar Street?

Pandithar Street is classified under Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for Pandithar Street?

The Sub Registrar Office for Pandithar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be 7% of that amount.