Guideline Value for Pantheon Salai 1st lane

Pantheon Salai 1st lane guideline value

The current guideline value of Pantheon Salai 1st lane is Rs 13,500 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Commercial Special Type - III.

How the guideline value of Pantheon Salai 1st lane has changed

The guideline value for Pantheon Salai 1st lane has seen several revisions over the years. The earliest recorded revision was in 2003, with a value of Rs 2,497 per sq.ft. This increased to Rs 4,000 per sq.ft in 2007, marking a significant rise of 60%. The value then jumped to Rs 12,300 per sq.ft in 2012, reflecting an increase of 208%. However, it decreased to Rs 8,241 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 12,300 per sq.ft in 2023, and most recently, it has increased to Rs 13,500 per sq.ft in 2024, which is a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 441%. Notably, the register has no figure for Pantheon Salai 1st lane for the year 2002.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, making the current value of Pantheon Salai 1st lane above that median.

• Pantheon Salai 2nd lane: Rs 13,500 per sq.ft (2024)
• Pantheon Salai 3rd lane: Rs 13,500 per sq.ft (2024)
• Pantheon Salai (Mainroad): Rs 18,100 per sq.ft (2024)
• Parasu Pillai street: Rs 7,100 per sq.ft (2024)
• Pagam Pillai street: Rs 6,300 per sq.ft (2024)
• Pachiyappan College Hostel Street: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pantheon Salai 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,500 per sq.ft, the total guideline value would be Rs 1,35,00,000. The stamp duty at 7% would amount to Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, totaling Rs 12,15,000. 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 information.

Which Sub Registrar Office covers Pantheon Salai 1st lane?

The Sub Registrar Office that covers Pantheon Salai 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for the buyer. This ensures that all property transactions are officially recorded and that the government maintains accurate property records.

Frequently asked questions

What is the current guideline value of Pantheon Salai 1st lane?

The current guideline value of Pantheon Salai 1st lane is Rs 13,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,497 per sq.ft in 2003 to Rs 13,500 per sq.ft in 2024, which is an overall increase of 441%.

What is the land classification for Pantheon Salai 1st lane?

Pantheon Salai 1st lane is classified as Commercial Special Type - III, indicating its commercial usage and significance in the area.

Where can I find the Sub Registrar Office for Pantheon Salai 1st lane?

The Sub Registrar Office for Pantheon Salai 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Pantheon Salai 1st lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 9,45,000.