Guideline Value for Pandiyan Street

Pandiyan Street guideline value

The current guideline value of Pandiyan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pandiyan Street has changed

The guideline value for Pandiyan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 394 per sq.ft, which increased to Rs 427 per sq.ft in 2003, marking an increase of 8%. The value then saw a significant rise to Rs 800 per sq.ft in 2007, representing a 87% increase. Following this, in 2012, the value decreased to Rs 2,500 per sq.ft, a drop of 213%. The 2017 revision brought the value back up to Rs 1,675 per sq.ft, reflecting a 49% increase. In 2023, the guideline value was Rs 2,500 per sq.ft, which then increased to the current rate of Rs 2,700 per sq.ft in 2024, an 8% rise.

Overall, from 2002 to 2024, the guideline value has increased by 585%. The register has no figure for the years between 2012 and 2017.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Pandiyan Street.

• Paper Mills Road: Rs 7,100 per sq.ft (2024)
• Pallavan Street: Rs 2,700 per sq.ft (2024)
• Pavazha Kalyana Sundara Mudaliyar Road: Rs 1,900 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Ottraivadai Street / 40ft Road Anmai Don Bosco School: Rs 2,700 per sq.ft (2024)
• Ottraivadai Street: Rs 1,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandiyan Street?

The Sub Registrar Office that covers Pandiyan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair value.

When registering a property, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is compliant with local regulations and that the necessary fees are accurately assessed based on the guideline value.

Frequently asked questions

What is the current guideline value of Pandiyan Street?

The current guideline value of Pandiyan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 394 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 585% over the years.

What is the land classification of Pandiyan Street?

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

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Pandiyan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,89,000.