Guideline Value for Pandiyan Nagar

Pandiyan Nagar guideline value

The current guideline value of Pandiyan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Pandiyan Nagar has changed

Over the years, the guideline value of Pandiyan Nagar has seen significant changes. In 2007, the value was Rs 300 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2012, marking a rise of 500%. However, by 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, followed by another increase to Rs 1,980 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, the value has risen by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Pandiyan Nagar's 2024 figure is below this median.

• Parthasarathipillai Street: Rs 2,750 per sq.ft (2024)
• Parthasarathy 1 To 11 Streets: Rs 2,750 per sq.ft (2024)
• Periyar Colony: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pandiyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Pandiyan Nagar?

The Sub Registrar Office that covers Pandiyan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable duties, which are charged on the higher of the guideline value or the actual sale price. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Pandiyan Nagar?

The current guideline value of Pandiyan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 1,980 per sq.ft in 2024, representing a total increase of 560% over the years.

What is the land classification of Pandiyan Nagar?

Pandiyan Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Pandiyan Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,78,200.

Where can I find the Sub Registrar Office for Pandiyan Nagar?

The Sub Registrar Office for Pandiyan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.