Guideline Value for Baharathiyar Street / Sholavaram Nagar

Baharathiyar Street / Sholavaram Nagar guideline value

The current guideline value of Baharathiyar Street / Sholavaram Nagar is Rs 1,760 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 III Type - II.

How the guideline value of Baharathiyar Street / Sholavaram Nagar has changed

The guideline value of Baharathiyar Street / Sholavaram Nagar has undergone several revisions over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value saw a further increase to Rs 260 per sq.ft in 2007, a change of 25%. By 2017, the guideline value reached Rs 1,072 per sq.ft, reflecting a significant increase of 312%. The next revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figure for Baharathiyar Street / Sholavaram Nagar for the year 2012. Overall, from 2002 to 2024, the guideline value has increased by 857%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO carrying 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 Baharathiyar Street / Sholavaram Nagar is below this median.

• Baharathiyar Street / Prasanthi Nagar: Rs 1,760 per sq.ft (2024)
• Baharathiyar Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Baharathiyar Street / Ponni Nagar: Rs 1,760 per sq.ft (2024)
• Baharathiyar Street / Near Pammal Main Road: Rs 1,760 per sq.ft (2024)
• Baharathiyar Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Babu Street, Sambandhanar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Baharathiyar Street / Sholavaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200. Together, the total cost for stamp duty and registration fee would be Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Baharathiyar Street / Sholavaram Nagar?

The Sub Registrar Office that covers Baharathiyar Street / Sholavaram Nagar 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 crucial factor during property registration in Pammal. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Baharathiyar Street / Sholavaram Nagar?

The current guideline value of Baharathiyar Street / Sholavaram Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 184 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 857%.

What is the land classification for Baharathiyar Street / Sholavaram Nagar?

Baharathiyar Street / Sholavaram Nagar is classified as Residential Class III Type - II.

What is the registration office for Baharathiyar Street / Sholavaram Nagar?

The registration office for Baharathiyar Street / Sholavaram Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at 7%.