Guideline Value for LIC Colony 4th Street

LIC Colony 4th Street guideline value

The current guideline value of LIC Colony 4th 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 4th Street has changed

The guideline value for LIC Colony 4th Street has seen significant changes over the years. The earliest recorded revision in 2002 was Rs 208 per sq.ft, which increased to Rs 236 per sq.ft in 2003, marking a change of +13%. By 2007, the value rose to Rs 360 per sq.ft, reflecting a growth of +53%. The 2017 revision recorded a substantial increase to Rs 1,541 per sq.ft, a change of +328%. The value continued to rise to Rs 2,300 per sq.ft in 2023, with a notable increase of +49%. The most recent revision in 2024 has set the guideline value at Rs 2,530 per sq.ft, an increase of +10% from the previous year.

There is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1116%, showcasing a consistent upward trend in valuation.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, placing LIC Colony 4th Street's 2024 figure above this median.

• LIC Colony 5th Cross Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Cross Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony, 6th Cross Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in LIC Colony 4th 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 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers LIC Colony 4th Street?

LIC Colony 4th Street falls under the jurisdiction of 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 an essential factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees payable during the transfer of property ownership.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of LIC Colony 4th Street?

The current guideline value of LIC Colony 4th 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 from Rs 208 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting a total increase of +1116% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with LIC Colony 4th Street's value being above this median at Rs 2,530 per sq.ft.

What are the stamp duty rates for properties in LIC Colony 4th Street?

The stamp duty for properties in LIC Colony 4th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

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