Guideline Value for Argeeswarar Colony 3rd Street

Argeeswarar Colony 3rd Street guideline value

The current guideline value of Argeeswarar Colony 3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Argeeswarar Colony 3rd Street has changed

The guideline value for Argeeswarar Colony 3rd Street has seen significant changes over the years. Starting from Rs 127 per sq.ft in 2002, it increased to Rs 144 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, which was an 81% increase from the previous revision. Following this, the value surged to Rs 1,206 per sq.ft in 2017, reflecting a remarkable 364% increase. The next revision in 2023 set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. Finally, the current value of Rs 1,980 per sq.ft in 2024 represents a 10% increase from the previous year.

It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Argeeswarar Colony 3rd Street is below this median.

• Argeeswarar Colony 1st Street: Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony 2nd 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 3rd 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 be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Argeeswarar Colony 3rd Street?

The Sub Registrar Office that covers Argeeswarar Colony 3rd 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 information.

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 the benchmark for calculating stamp duty and registration fees, ensuring that both the buyer and seller comply with the legal requirements set by the state.

When a property is bought or sold, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both parties to ensure transparency and adherence to the regulations established by the Registration Department.

Frequently asked questions

What is the current guideline value of Argeeswarar Colony 3rd Street?

The current guideline value of Argeeswarar Colony 3rd 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, reflecting an overall increase of 1459% over this period.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles property registrations in Pammal?

The Pammal Sub Registrar Office handles property registrations in Pammal, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with legal requirements and transparency in the process.