Guideline Value for Pamban Swamigal Cross Street

Pamban Swamigal Cross Street guideline value

The current guideline value of Pamban Swamigal Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Pamban Swamigal Cross Street has changed

The guideline value for Pamban Swamigal Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to Rs 2,750 per sq.ft in 2024. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the current value of Pamban Swamigal Cross Street above that median.

• Pamban C.V. Raman Street: Rs 2,750 per sq.ft (2024)
• Pamban Swamigal salai: Rs 2,750 per sq.ft (2024)
• Pamban Swamigal Street: Rs 3,850 per sq.ft (2024)
• Pandithar Street: Rs 1,650 per sq.ft (2024)
• Paranar Street: Rs 2,750 per sq.ft (2024)
• Pari Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pamban Swamigal Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to 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 stamp 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 detailed calculations.

Which Sub Registrar Office covers Pamban Swamigal Cross Street?

The Sub Registrar Office that covers Pamban Swamigal Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pamban Swamigal Cross Street?

The current guideline value of Pamban Swamigal Cross Street 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, which is lower than the current value of Pamban Swamigal Cross Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant website and using the provided tools to locate your specific SRO.