Guideline Value for Mayor Chittibabu Street / Hindustan Lever Colony

Mayor Chittibabu Street / Hindustan Lever Colony guideline value

The current guideline value of Mayor Chittibabu Street / Hindustan Lever Colony 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 Mayor Chittibabu Street / Hindustan Lever Colony has changed

The guideline value has seen significant changes over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 185 per sq.ft in 2003, marking a change of +13%. The value rose further to Rs 260 per sq.ft in 2007, reflecting a +41% increase. By 2017, the guideline value surged to Rs 1,541 per sq.ft, a remarkable increase of +493%. In 2023, the value was updated to Rs 2,300 per sq.ft, which was a +49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 2,530 per sq.ft, showing a +10% increase from 2023. The register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by +1452%. This steady rise in the guideline value reflects the changing landscape of property values in the area.

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 guideline value in Pammal is Rs 2,090 per sq.ft, placing Mayor Chittibabu Street / Hindustan Lever Colony above this median.

• Mayor Chittibabu 2nd Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Mayor Chittibabu 1st Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• MC Raja Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Meenakshi Street: Rs 1,980 per sq.ft (2024)
• Meenakshi Sundaram Street / Kalanyipuram: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mayor Chittibabu 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 at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mayor Chittibabu Street / Hindustan Lever Colony?

The Mayor Chittibabu Street / Hindustan Lever Colony falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 in property transactions in Pammal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mayor Chittibabu Street / Hindustan Lever Colony?

The current guideline value of Mayor Chittibabu 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?

The guideline value has changed significantly, increasing from Rs 163 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, which is an overall increase of +1452%.

What is the registration office for Mayor Chittibabu Street / Hindustan Lever Colony?

The registration office for Mayor Chittibabu Street / Hindustan Lever Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at 7%.

Where can I find more information about the guideline values in Pammal?

More information about the guideline values in Pammal can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets.