Guideline Value for Fernandas Street (Geroge) / VOC Nagar

Fernandas Street (Geroge) / VOC Nagar guideline value

The current guideline value of Fernandas Street (Geroge) / VOC Nagar 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 Fernandas Street (Geroge) / VOC Nagar has changed

The guideline value for Fernandas Street (Geroge) has seen significant changes over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 211 per sq.ft in 2003, reflecting a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, marking a substantial increase of +71%. By 2017, the guideline value had jumped to Rs 1,675 per sq.ft, showing an impressive increase of +365%. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a +49% change from the previous figure. The register has no figure for this street in 2012.

The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, representing a +10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +1378%, highlighting the significant growth in the property value over the years.

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 as per the 2024 revision. The median guideline value in this village is Rs 2,090 per sq.ft, placing Fernandas Street (Geroge) / VOC Nagar above this median.

• Fathima Nagar, Vellachamy Street: Rs 1,980 per sq.ft (2024)
• Fathima Nagar, Dasan Street: Rs 1,980 per sq.ft (2024)
• Fathima Nagar, Chandran Street: Rs 1,980 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 Fernandas Street (Geroge) / VOC Nagar

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, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Fernandas Street (Geroge) / VOC Nagar?

The Sub Registrar Office that covers Fernandas Street (Geroge) / VOC Nagar 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 details.

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

The guideline value plays a crucial role in 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 consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable during the registration process.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Fernandas Street (Geroge) / VOC Nagar?

The current guideline value of Fernandas Street (Geroge) / VOC Nagar 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 increased significantly from Rs 186 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1378% over the years.

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

The stamp duty for properties in Fernandas Street (Geroge) / VOC Nagar is 7%, and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would be Rs 2,47,500.

Which Sub Registrar Office is responsible for this street?

The Pammal Sub Registrar Office covers Fernandas Street (Geroge) / VOC Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value in Pammal village?

The median guideline value in Pammal village is Rs 2,090 per sq.ft as per the 2024 revision, with Fernandas Street (Geroge) / VOC Nagar being above this median at Rs 2,750 per sq.ft.