Guideline Value for Pandiyan Street

Pandiyan Street guideline value

The current guideline value of Pandiyan Street is Rs 2,800 per sq.ft. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pandiyan Street has changed

The guideline value for Pandiyan Street has seen several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, a jump of 233%. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, reflecting a drop of 33%. However, the value rebounded to Rs 1,675 per sq.ft in 2017, an increase of 49%. The most recent revisions show the value at Rs 2,500 per sq.ft in 2023, followed by an increase to Rs 2,800 per sq.ft in 2024, which is a rise of 12%.

Overall, from 2002 to 2024, the guideline value has increased by 1,661%. There are no figures available for the revisions in years other than those listed.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Pandiyan Street.

• Pammal Nallathambi Street: Rs 2,200 per sq.ft (2024)
• Peeli Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Nethaji Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pandiyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pandiyan Street?

The Sub Registrar Office that covers Pandiyan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Tharamani. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pandiyan Street?

The current guideline value of Pandiyan Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1,661% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000. The stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office handles registrations for Pandiyan Street?

The Adayar Sub Registrar Office handles registrations for Pandiyan Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Pandiyan Street?

Pandiyan Street is classified as Residential Class II Type - I, which is important for determining the applicable guidelines and regulations for property transactions in the area.