Guideline Value for Pantheon Salai 2ndlane

Pantheon Salai 2ndlane guideline value

The current guideline value of Pantheon Salai 2ndlane is Rs 13,500 per sq.ft as per the 2024 revision, 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 2ndlane has changed

The guideline value for Pantheon Salai 2ndlane has seen significant changes over the years. Starting from the 2002 revision, the guideline value was Rs 2,265 per sq.ft, which increased to Rs 2,497 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2007, reflecting a 60% growth. The 2012 revision recorded a drop to Rs 12,300 per sq.ft, which was a decrease of 33%. However, this was followed by a remarkable increase to Rs 8,241 per sq.ft in 2017, which represented a 49% rise from the previous revision. The value further increased to Rs 12,300 per sq.ft in 2023, before reaching the current rate of Rs 13,500 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 496%. It is important to note that there are no figures available for the years not listed in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Pantheon Salai 2ndlane's 2024 figure above this median.

• Pantheon Salai 1st 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 2ndlane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,500 per sq.ft, the total guideline value amounts to Rs 1,35,00,000. The stamp duty at 7% would be Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, bringing the total fees to Rs 12,15,000. 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 Pantheon Salai 2ndlane?

The Sub Registrar Office that covers Pantheon Salai 2ndlane 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 buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and reflects the current market conditions as defined by the guideline value.

Frequently asked questions

What is the current guideline value of Pantheon Salai 2ndlane?

The current guideline value of Pantheon Salai 2ndlane is Rs 13,500 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 2,265 per sq.ft to Rs 13,500 per sq.ft in 2024, representing an overall increase of 496%.

What are the stamp duty rates for properties in Pantheon Salai 2ndlane?

The stamp duty rate for properties in Pantheon Salai 2ndlane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Pantheon Salai 2ndlane?

The Periamet Sub Registrar Office, which covers Pantheon Salai 2ndlane, is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value for streets in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, with Pantheon Salai 2ndlane's current value being above this median.