Guideline Value for K.V.K. Swamy Street / Hindustan Lever Colony

K.V.K. Swamy Street / Hindustan Lever Colony guideline value

The current guideline value of K.V.K. Swamy Street / Hindustan Lever Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of K.V.K. Swamy Street / Hindustan Lever Colony has changed

The guideline value for K.V.K. Swamy Street / Hindustan Lever Colony has seen significant changes over the years. In 2002, the guideline value was Rs 163 per sq.ft, which 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. Following this, the 2017 revision saw a substantial jump to Rs 1,541 per sq.ft, which is a 493% increase from 2007. The next revision in 2023 set the value at Rs 2,300 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has brought the guideline value to Rs 2,530 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1452%.

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 of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning K.V.K. Swamy Street / Hindustan Lever Colony above this median.

• Lakshman Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Lakshman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Lakshman Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Kuppaswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Kuppammal Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kumaraswamy Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in K.V.K. Swamy 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 amounts to Rs 25,30,000. The stamp duty, charged at 7%, would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers K.V.K. Swamy Street / Hindustan Lever Colony?

The K.V.K. Swamy Street / Hindustan Lever Colony falls under 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 is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the fair value of properties in the area.

Frequently asked questions

What is the current guideline value of K.V.K. Swamy Street / Hindustan Lever Colony?

The current guideline value of K.V.K. Swamy 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?

Since 2002, the guideline value has increased significantly from Rs 163 per sq.ft to Rs 2,530 per sq.ft in 2024, which is an overall increase of 1452%.

What is the land classification for K.V.K. Swamy Street / Hindustan Lever Colony?

The land classification for K.V.K. Swamy Street / Hindustan Lever Colony is Residential Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

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

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, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 1,77,100.