Guideline Value for Pandurangan Lane

Pandurangan Lane guideline value

The current guideline value of Pandurangan Lane in Erukancherry village, under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class V Type - I land classification.

How the guideline value of Pandurangan Lane has changed

The guideline value for Pandurangan Lane has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,800 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value rose significantly by 49%, reaching Rs 1,800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, reflecting an increase of 6% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Pandurangan Lane's 2024 figure below this median.

• Pandurangan Street: Rs 2,200 per sq.ft (2024)
• Pandit Nehru Street: Rs 1,900 per sq.ft (2024)
• Pandian Nagar: Rs 2,200 per sq.ft (2024)
• Panchayat Street: Rs 2,200 per sq.ft (2024)
• Pappathi Ammal Koil Street: Rs 2,200 per sq.ft (2024)
• Palvadi Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pandurangan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pandurangan Lane?

The Sub Registrar Office that covers Pandurangan Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Erukancherry, as it determines the minimum value at which a property must be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that all property transactions are conducted transparently and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Pandurangan Lane?

The current guideline value of Pandurangan Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the other streets in Erukancherry with their guideline values?

Other streets in Erukancherry include Pandurangan Street at Rs 2,200 per sq.ft, Pandit Nehru Street at Rs 1,900 per sq.ft, and several others, all with their respective guideline values listed for 2024.

What is the registration fee for property in Pandurangan Lane?

The registration fee for property in Pandurangan Lane is calculated based on the guideline value, which is Rs 1,900 per sq.ft. For a 1,000 sq.ft plot, the registration fee would be Rs 38,000.

Where can I find the Sub Registrar Office for Pandurangan Lane?

The Sub Registrar Office covering Pandurangan Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.