Guideline Value for Fathima Nagar, Vellachamy Street

Fathima Nagar, Vellachamy Street guideline value

The current guideline value of Fathima Nagar, Vellachamy Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Fathima Nagar, Vellachamy Street has changed

In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This figure increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase over the six-year period. The current guideline value of Rs 1,980 per sq.ft represents a further 10% increase from the 2023 revision.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 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. Fathima Nagar, Vellachamy Street's 2024 figure is below this median.

• Fathima Nagar, Dasan Street: Rs 1,980 per sq.ft (2024)
• Fathima Nagar, Chandran Street: Rs 1,980 per sq.ft (2024)
• Fernandas Street (Geroge) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Fathima Nagar: Rs 1,980 per sq.ft (2024)
• Fathima Manzil Street: Rs 1,980 per sq.ft (2024)
• Fathima Manzil Road, Meenakshi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Fathima Nagar, Vellachamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to 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, resulting in a total of Rs 1,78,200. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Fathima Nagar, Vellachamy Street?

The Fathima Nagar, Vellachamy Street falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a crucial aspect of property transactions in Pammal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable duties and fees.

When a property is sold, the buyer pays stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Fathima Nagar, Vellachamy Street?

The current guideline value of Fathima Nagar, Vellachamy 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 from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Fathima Nagar, Vellachamy Street?

Fathima Nagar, Vellachamy Street is classified as Residential Class II Type - II. This classification is important for determining the guideline value and other regulatory aspects.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. This office handles all property registrations in the area.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.