Guideline Value for Asireyar Samuel Street / Gokulam Colony

Asireyar Samuel Street / Gokulam Colony guideline value

The current guideline value of Asireyar Samuel Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of Asireyar Samuel Street / Gokulam Colony has changed

The guideline value for Asireyar Samuel Street / Gokulam Colony has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 200 per sq.ft. It increased to Rs 226 per sq.ft in 2003, marking a 13% rise. By 2007, the value had significantly increased to Rs 570 per sq.ft, reflecting a 152% change. The 2017 revision saw a further increase to Rs 1,675 per sq.ft, which was a remarkable 194% increase from the previous figure. The 2023 revision set the value at Rs 2,500 per sq.ft, marking a 49% increase from 2017. The current 2024 revision has raised it to Rs 2,750 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for this street for the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1275%.

Guideline values in Pammal

In Pammal village, 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. The median value for these streets is Rs 2,090 per sq.ft, placing Asireyar Samuel Street / Gokulam Colony above this median.

• Asireyar Krishnasawmy Street/ Pammal Main Road: Rs 2,200 per sq.ft (2024)
• Asireyar Krishnasawmy Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Asokan Street: Rs 1,980 per sq.ft (2024)
• Avaiyar Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Arumugam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Arumugam Street Extn, V.O.C Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Asireyar Samuel Street / Gokulam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Asireyar Samuel Street / Gokulam Colony?

The Sub Registrar Office that covers Asireyar Samuel Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 critical factor during property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transaction. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Asireyar Samuel Street / Gokulam Colony?

The current guideline value of Asireyar Samuel Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 200 per sq.ft in 2002 to the current Rs 2,750 per sq.ft in 2024. The most notable increase was from Rs 570 in 2007 to Rs 1,675 in 2017, which was a 194% rise.

What is the land classification of Asireyar Samuel Street / Gokulam Colony?

Asireyar Samuel Street / Gokulam Colony is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty rates in Pammal?

The stamp duty rate in Pammal is 7%, which is applied to the higher of the guideline value or the sale price of the property. This is an essential cost for property transactions.

Where can I find the Sub Registrar Office for Pammal?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. It is the office responsible for property registrations in this area.