Guideline Value for Argeeswarar Colony 2nd Street

Argeeswarar Colony 2nd Street guideline value

The current guideline value of Argeeswarar Colony 2nd 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 2nd Street has changed

The guideline value for Argeeswarar Colony 2nd Street has undergone several revisions over the years. Starting from Rs 127 per sq.ft in 2002, it increased to Rs 144 per sq.ft in 2003, marking a change of +13%. In 2007, the value rose significantly to Rs 260 per sq.ft, which represented an increase of +81%. The following revision in 2017 saw a substantial jump to Rs 1,206 per sq.ft, reflecting a change of +364%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2023, which was a +49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, an increase of +10% from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by +1459%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Argeeswarar Colony 2nd Street's 2024 guideline value below this median.

• Argeeswarar Colony 1st 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 2nd 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, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Argeeswarar Colony 2nd Street?

The Sub Registrar Office that covers Argeeswarar Colony 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs reflect the official value of the property.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Argeeswarar Colony 2nd Street?

The current guideline value of Argeeswarar Colony 2nd 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 changed significantly from Rs 127 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of +1459%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is higher than the guideline value of Argeeswarar Colony 2nd Street.

What are the stamp duty and registration fees for property in Argeeswarar Colony 2nd Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Argeeswarar Colony 2nd Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.