Guideline Value for Pammal Nalathambi Salai

Pammal Nalathambi Salai guideline value

The current guideline value of Pammal Nalathambi Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and falls under the Commercial Class I Type - II land classification.

How the guideline value of Pammal Nalathambi Salai has changed

The guideline value for Pammal Nalathambi Salai has undergone several revisions over the years. Starting from Rs 260 per sq.ft in 2002, it increased to Rs 294 per sq.ft in 2003, marking a 13% rise. The value then saw a significant jump to Rs 570 per sq.ft in 2007, reflecting a 94% increase. By 2017, the value further escalated to Rs 1,675 per sq.ft, a remarkable 194% increase from the previous revision. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, showing a 49% increase since 2017.

In the most recent revision for 2024, the guideline value is now Rs 2,750 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by a staggering 958%. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Pammal Nalathambi Salai is above this median.

• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Dr. Ambedhkar Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road: Rs 3,300 per sq.ft (2024)
• Pammal Mahasuran Street/ Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)
• Pammal, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pammal Nalathambi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pammal Nalathambi Salai?

The Pammal Nalathambi Salai 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 the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pammal Nalathambi Salai?

The current guideline value of Pammal Nalathambi Salai 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 seen significant increases, from Rs 260 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 958% over the years.

What is the land classification for Pammal Nalathambi Salai?

Pammal Nalathambi Salai is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Pammal Nalathambi Salai?

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

How is the stamp duty calculated for properties in Pammal Nalathambi Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.