Guideline Value for Devadas Street /Hindustan Lever Colony

Devadas Street /Hindustan Lever Colony guideline value

The current guideline value of Devadas Street /Hindustan Lever Colony is Rs 2,530 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 I Type - I.

How the guideline value of Devadas Street /Hindustan Lever Colony has changed

The guideline value for Devadas Street /Hindustan Lever Colony has seen significant changes over the years. Starting from Rs 163 per sq.ft in 2002, it increased to Rs 185 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, reflecting a 41% increase. By 2017, the guideline value surged to Rs 1,541 per sq.ft, which was a remarkable 493% increase from the 2007 figure. However, there is no figure available for the year 2012 in the register.

In 2023, the guideline value was revised to Rs 2,300 per sq.ft, showing a 49% increase from the 2017 figure. The latest revision in 2024 brought the guideline value to Rs 2,530 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,452%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 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 Devadas Street /Hindustan Lever Colony above this median.

• Devadas Street/Anna Nagar: Rs 2,750 per sq.ft (2024)
• Devadas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devadas Street /Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Delhi Street / Thandai Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Deivasigamani Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Deivasigamani Cross Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Devadas Street /Hindustan Lever Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, making the total cost for these fees Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Devadas Street /Hindustan Lever Colony?

The Sub Registrar Office that covers Devadas Street /Hindustan Lever Colony 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 during property transactions in Pammal. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value set by the government, rather than fluctuating market prices.

Additionally, the guideline value is essential for legal documentation and property registration. It helps establish a clear understanding of property worth and ensures transparency in transactions, benefiting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Devadas Street /Hindustan Lever Colony?

The current guideline value of Devadas Street /Hindustan Lever Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 163 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, which is an overall increase of 1,452%.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700 based on the current guideline value.

Which Sub Registrar Office handles registrations for this street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, covers registrations for Devadas Street /Hindustan Lever Colony.

What is the land classification for this street?

Devadas Street /Hindustan Lever Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.