Guideline Value for Argeeswarar Colony 1st Street

Argeeswarar Colony 1st Street guideline value

The current guideline value of Argeeswarar Colony 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Argeeswarar Colony 1st Street has changed

The guideline value for Argeeswarar Colony 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 127 per sq.ft, which increased to Rs 144 per sq.ft in 2003, marking a 13% rise. The value then saw a significant jump to Rs 260 per sq.ft in 2007, representing an 81% increase. By 2017, the value had soared to Rs 1,206 per sq.ft, reflecting a remarkable 364% increase from the previous revision.

In 2023, the guideline value was set at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 raised the value to Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. It is important to note that there is no figure available for the year 2012 for this street in the register.

Guideline values in Pammal

Pammal village features a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Argeeswarar Colony 1st Street below this median.

• Argeeswarar Colony 2nd Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 3rd Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 4th Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 5th Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 6th Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 7th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Argeeswarar Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Argeeswarar Colony 1st Street?

The Sub Registrar Office that covers Argeeswarar Colony 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Argeeswarar Colony 1st Street?

The current guideline value for Argeeswarar Colony 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has significantly increased from Rs 127 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1459% over the years.

What is the land classification for Argeeswarar Colony 1st Street?

Argeeswarar Colony 1st Street is classified as Residential Class II Type - II, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,78,200.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for properties in the area.