Guideline Value for MayorChittibabu 1stStreet / Hindustan Lever Colony

MayorChittibabu 1stStreet / Hindustan Lever Colony guideline value

The current guideline value for MayorChittibabu 1stStreet / 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 MayorChittibabu 1stStreet / Hindustan Lever Colony has changed

The guideline value for MayorChittibabu 1stStreet / Hindustan Lever Colony 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 13% rise. Following this, the value rose to Rs 260 per sq.ft in 2007, a 41% increase from the previous revision. The 2012 revision has no figure for this street. The 2017 revision saw a substantial increase to Rs 1,541 per sq.ft, a remarkable 493% rise from 2007. The value continued to climb to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase from 2017, and finally reached Rs 2,530 per sq.ft in the 2024 revision, a 10% increase from the previous year.

Guideline values in Pammal

Pammal village has 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, placing MayorChittibabu 1stStreet / Hindustan Lever Colony's 2024 figure above this median.

• MayorChittibabu 2ndStreet / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Mayor Chittibabu 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 MayorChittibabu 1stStreet / 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 would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers MayorChittibabu 1stStreet / Hindustan Lever Colony?

The Sub Registrar Office that covers MayorChittibabu 1stStreet / Hindustan Lever Colony is 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration of property.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value for MayorChittibabu 1stStreet / Hindustan Lever Colony?

The current guideline value for MayorChittibabu 1stStreet / Hindustan Lever Colony 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 163 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1452% over this period.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 2,530 per sq.ft in 2024 include MayorChittibabu 2ndStreet / Hindustan Lever Colony and Mayor Chittibabu Street / Hindustan Lever Colony.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with MayorChittibabu 1stStreet / Hindustan Lever Colony's 2024 value being above this median.

Where can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.