Guideline Value for P.V. RAJAMANNAR SALAI

P.V. Rajamannar Salai guideline value

The current guideline value of P.V. Rajamannar Salai is Rs 7,140 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Commercial Class I Type - III.

How the guideline value of P.V. Rajamannar Salai has changed

The guideline value for P.V. Rajamannar Salai has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 7,140 per sq.ft, which is an increase from Rs 6,500 per sq.ft in 2023, reflecting a change of +10%. Prior to that, the value was Rs 4,355 per sq.ft in 2017, marking a significant increase of +49% over the six years.

In 2012, the guideline value was Rs 6,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which means P.V. Rajamannar Salai's 2024 figure is above that median.

• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Pushpa Colony: Rs 4,400 per sq.ft (2024)
• Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Prem Nagar (Bharathi Street.): Rs 3,300 per sq.ft (2024)
• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in P.V. Rajamannar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,140 per sq.ft, the total guideline value would be Rs 71,40,000. The stamp duty at 7% would be Rs 4,99,800, and the registration fee at 2% would be Rs 1,42,800, bringing the total cost for stamp duty and registration to Rs 6,42,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.V. Rajamannar Salai?

The Sub Registrar Office that covers P.V. Rajamannar Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Saligramam

The guideline value is a crucial factor when buying or selling property in Saligramam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of P.V. Rajamannar Salai?

The current guideline value of P.V. Rajamannar Salai is Rs 7,140 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2023 to Rs 7,140 per sq.ft in 2024, an increase of +10%. It was Rs 4,355 per sq.ft in 2017 and Rs 6,500 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for P.V. Rajamannar Salai?

P.V. Rajamannar Salai is classified as Commercial Class I Type - III, indicating its use for commercial purposes.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft property, the total cost for stamp duty and registration would be Rs 6,42,600.

Which office handles registrations for P.V. Rajamannar Salai?

The registrations for P.V. Rajamannar Salai are handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.