Guideline Value for Pantheon Road

Pantheon Road guideline value

The current guideline value of Pantheon Road in Chindadripet village, under the Periamet SRO, is Rs 18,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Pantheon Road has changed

The guideline value for Pantheon Road has seen several revisions over the years. In 2007, the value was Rs 5,200 per sq.ft, which increased significantly to Rs 16,500 per sq.ft in 2012, marking a 217% rise. However, from 2012 to 2017, the value dropped to Rs 11,055 per sq.ft, a decrease of 33%. The value then rose to Rs 16,500 per sq.ft in 2023, and most recently, it has increased to Rs 18,100 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 248%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making Pantheon Road's current value above this median.

• Palli Street: Rs 3,800 per sq.ft (2024)
• Palani Andavar Koil street: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil 1st/2nd/3rd street: Rs 4,400 per sq.ft (2024)
• Padavattamman West Street: Rs 2,500 per sq.ft (2024)
• Padavattamman south Street: Rs 2,500 per sq.ft (2024)
• Padavattamman lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pantheon Road

For a 1,000 sq.ft plot at the current guideline value of Rs 18,100 per sq.ft, the total guideline value would be Rs 1,81,00,000. The stamp duty at 7% would amount to Rs 12,67,000, and the registration fee at 2% would be Rs 3,62,000, making the total cost for these fees Rs 16,29,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pantheon Road?

The Sub Registrar Office that covers Pantheon Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer and seller agree on a sale price, the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pantheon Road?

The current guideline value of Pantheon Road is Rs 18,100 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 5,200 per sq.ft in 2007 to Rs 18,100 per sq.ft in 2024, marking an overall increase of 248% over the years.

What are the stamp duty and registration fees for properties on Pantheon Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,81,00,000. The stamp duty at 7% would be Rs 12,67,000, and the registration fee at 2% would be Rs 3,62,000, totaling Rs 16,29,000 in fees.

Which Sub Registrar Office covers Pantheon Road?

The Periamet Sub Registrar Office covers Pantheon Road, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Pantheon Road?

The land classification for Pantheon Road is Commercial Special Type - I, indicating its use for commercial purposes.