Guideline Value for Pandiyan Street/Sankaran Nair Avenue

Pandiyan Street/Sankaran Nair Avenue guideline value

The current guideline value of Pandiyan Street/Sankaran Nair Avenue is Rs 3,850 per sq.ft. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Pandiyan Street/Sankaran Nair Avenue has changed

The guideline value for Pandiyan Street/Sankaran Nair Avenue has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, marking an increase of 10% from the 2012 figure.

There are no recorded figures for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Pandiyan Street/Sankaran Nair Avenue at Rs 3,850 per sq.ft is below this median.

• Pandiyan Street: Rs 3,850 per sq.ft (2024)
• Pandidurai Street: Rs 3,850 per sq.ft (2024)
• Panchatcharam Nagar: Rs 3,850 per sq.ft (2024)
• Parameshwaran Street: Rs 3,850 per sq.ft (2024)
• Pallipattu Main Road: Rs 3,850 per sq.ft (2024)
• Parasuraman Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pandiyan Street/Sankaran Nair Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. 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 Street/Sankaran Nair Avenue?

The Sub Registrar Office that covers Pandiyan Street/Sankaran Nair Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pandiyan Street?

The current guideline value of Pandiyan Street/Sankaran Nair Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase over this period. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Pandiyan Street?

Pandiyan Street/Sankaran Nair Avenue is classified as Residential Class II Type - III. This classification impacts the guideline value and the type of properties that can be developed in the area.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pandiyan Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.