Guideline Value for Hindustan Lever Colony 1st Main Road

Hindustan Lever Colony 1st Main Road guideline value

The current guideline value of Hindustan Lever Colony 1st Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Hindustan Lever Colony 1st Main Road has changed

The guideline value for Hindustan Lever Colony 1st Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 201 per sq.ft. This increased to Rs 237 per sq.ft in 2003, marking an 18% rise. By 2007, the value jumped to Rs 360 per sq.ft, which was a 52% increase from the previous revision. The 2017 revision set the guideline value at Rs 1,541 per sq.ft, reflecting a substantial 328% increase from 2007. However, there is no figure available for this street in the 2012 revision. The value further increased to Rs 2,300 per sq.ft in 2023, a 49% increase from 2017, and finally reached Rs 2,530 per sq.ft in 2024, a 10% rise from the previous year.

Guideline values in Pammal

Pammal village features a range of guideline values across its 926 streets under the Pammal SRO, with figures for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Hindustan Lever Colony 1st Main Road above this median.

• H.L. Colony, 1st Cross Street: Rs 2,750 per sq.ft (2024)
• H.L. Colony, 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• H.L. Colony, Cross Street: Rs 2,530 per sq.ft (2024)
• H.L. Lever colony/Anna Nagar: Rs 2,750 per sq.ft (2024)
• Ibrahaim Motha Street: Rs 1,980 per sq.ft (2024)
• Indira Gandhi Street, Muthamiaz Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Hindustan Lever Colony 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and 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 guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hindustan Lever Colony 1st Main Road?

The Sub Registrar Office that covers Hindustan Lever Colony 1st Main Road 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 is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential to be aware of the current guideline value to ensure compliance with local regulations and avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Hindustan Lever Colony 1st Main Road?

The current guideline value of Hindustan Lever Colony 1st Main Road is Rs 2,530 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 201 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 1,159% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Hindustan Lever Colony 1st Main Road's 2024 figure being above this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 25,30,000, the stamp duty is Rs 1,77,100, and the registration fee is Rs 50,600, totaling Rs 2,27,700. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Hindustan Lever Colony located?

The Sub Registrar Office for Hindustan Lever Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.