Guideline Value for M. P.Sivanyanam Street / Gokulam Colony

M. P.Sivanyanam Street / Gokulam Colony guideline value

The current guideline value of M. P.Sivanyanam Street / Gokulam Colony 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. The land classification for this area is Commercial Class I Type - II.

How the guideline value of M. P.Sivanyanam Street / Gokulam Colony has changed

The guideline value for M. P.Sivanyanam Street / Gokulam Colony has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The 2007 revision set the value at Rs 360 per sq.ft, reflecting a 59% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,675 per sq.ft, a remarkable 365% increase from 2007. The 2023 revision brought it to Rs 2,500 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has set the value at Rs 2,750 per sq.ft, a 10% increase from 2023.

It is noteworthy that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1275%.

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 in this area is Rs 2,090 per sq.ft, placing M. P.Sivanyanam Street / Gokulam Colony's current value above the median.

• Moudha Ibrahim Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Mosses Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Mosses Salai: Rs 2,530 per sq.ft (2024)
• Mosque Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Mosque Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Moses Street, Gandhi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in M. P.Sivanyanam Street / Gokulam Colony

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 cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M. P.Sivanyanam Street / Gokulam Colony?

The Sub Registrar Office that covers M. P.Sivanyanam Street / Gokulam Colony 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 plays a crucial role in the registration process 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 duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M. P.Sivanyanam Street / Gokulam Colony?

The current guideline value of M. P.Sivanyanam Street / Gokulam Colony 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 200 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing a total increase of 1275% over this period.

What is the land classification for M. P.Sivanyanam Street / Gokulam Colony?

The land classification for M. P.Sivanyanam Street / Gokulam Colony is Commercial Class I Type - II.

Where can I find the registration office for this street?

The registration office for M. P.Sivanyanam Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.