Guideline Value for MayorChittibabu 2ndStreet / Hindustan Lever Colony

MayorChittibabu 2ndStreet / Hindustan Lever Colony guideline value

The current guideline value of MayorChittibabu 2ndStreet / 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 2ndStreet / Hindustan Lever Colony has changed

The guideline value for MayorChittibabu 2ndStreet / Hindustan Lever Colony has seen significant changes over the years. In 2002, the guideline value was Rs 163 per sq.ft, which increased to Rs 185 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, reflecting a 41% increase. Following this, the guideline value surged to Rs 1,541 per sq.ft in 2017, a remarkable increase of 493%. The 2023 revision set the value at Rs 2,300 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 brought the guideline value to Rs 2,530 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1452%.

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 this area is Rs 2,090 per sq.ft, placing MayorChittibabu 2ndStreet / Hindustan Lever Colony above this median.

• MayorChittibabu 1stStreet / 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 2ndStreet / 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 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 duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MayorChittibabu 2ndStreet / Hindustan Lever Colony?

The MayorChittibabu 2ndStreet / Hindustan Lever Colony falls under 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

When buying or selling property in Pammal, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with the local regulations.

The guideline value is assessed by the Registration Department and is updated periodically. Buyers and sellers should be aware of the current guideline value to accurately calculate their costs during property transactions.

Frequently asked questions

What is the current guideline value of MayorChittibabu 2ndStreet / Hindustan Lever Colony?

The current guideline value of MayorChittibabu 2ndStreet / 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 a total increase of 1452% over the years.

What is the land classification for MayorChittibabu 2ndStreet / Hindustan Lever Colony?

The land classification for MayorChittibabu 2ndStreet / Hindustan Lever Colony is Residential Class I Type - I.

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in this area is set at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

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