Guideline Value

Corporate

Guideline Value for LIC Colony 1st Street

₹2530/sq.ft.

The guideline value for Lic Colony 1st Street in Pammal village (Pammal SRO, Chengalpattu zone) is Rs 2530 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Pammal

Village

Pammal

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2530 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹360 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹236 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹208 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075
044-22480069
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Lic Colony 1st Street

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LIC Colony 1st Street guideline value

The current guideline value of LIC Colony 1st Street 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 LIC Colony 1st Street has changed

The guideline value for LIC Colony 1st Street has seen significant changes over the years. Starting from Rs 208 per sq.ft in 2002, it increased to Rs 236 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, which was a 53% increase from the previous revision. By 2017, the value surged to Rs 1,541 per sq.ft, reflecting a remarkable 328% growth. In 2023, the guideline value reached Rs 2,300 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, 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 a substantial 1116%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which means that LIC Colony 1st Street's 2024 figure is above the median.

Stamp duty and registration fee for property in LIC Colony 1st Street

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, 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 and the sale price.

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

Which Sub Registrar Office covers LIC Colony 1st Street?

The Sub Registrar Office that covers LIC Colony 1st Street 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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

Additionally, the guideline value is periodically revised to reflect changes in the real estate market, ensuring that the rates are aligned with current market conditions. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of LIC Colony 1st Street?

The current guideline value of LIC Colony 1st Street 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 208 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1116% 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 LIC Colony 1st Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property in LIC Colony 1st Street?

For a property valued at 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, totaling Rs 2,27,700.

Which office handles registrations for LIC Colony 1st Street?

The Pammal Sub Registrar Office handles registrations for LIC Colony 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.