Guideline Value for Argeeswarar Colony Main Road

Argeeswarar Colony Main Road guideline value

The current guideline value of Argeeswarar Colony Main Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Argeeswarar Colony Main Road has seen significant changes over the years. In 2002, the value was Rs 135 per sq.ft, which increased to Rs 153 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 260 per sq.ft in 2007, reflecting a 70% increase. By 2017, the guideline value had risen dramatically to Rs 1,206 per sq.ft, a 364% increase from the 2007 revision. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The current 2024 revision has raised the guideline value to Rs 1,980 per sq.ft, representing a 10% increase from the previous year. There is no figure for this street in the 2012 revision.

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 for these streets is Rs 2,090 per sq.ft, placing Argeeswarar Colony Main Road's 2024 figure below that median.

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

Stamp duty and registration fee for property in Argeeswarar Colony Main Road

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 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.

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

Which Sub Registrar Office covers Argeeswarar Colony Main Road?

The Sub Registrar Office that covers Argeeswarar Colony Main Road 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the registration office will compare this price with the guideline value. The higher of the two will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Argeeswarar Colony Main Road?

The current guideline value of Argeeswarar Colony Main Road 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 increased significantly from Rs 135 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 1367% over this period.

What are the guideline values for other streets in Pammal?

Other streets in Pammal, such as Argeeswarar Colony 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street, all share the same guideline value of Rs 1,980 per sq.ft for 2024.

What is the stamp duty rate for property transactions in Argeeswarar Colony Main Road?

The stamp duty rate for property transactions is 7%, which is calculated based on the higher of the guideline value or the sale price during registration.

Where is the Sub Registrar Office for Argeeswarar Colony Main Road located?

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