Guideline Value for Pammi Sivaramalu Street

Pammi Sivaramalu Street guideline value

The current guideline value of Pammi Sivaramalu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Pammi Sivaramalu Street has changed

The guideline value for Pammi Sivaramalu Street has undergone several revisions over the years. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a 49% rise. The next revision in 2023 saw a further increase to Rs 2,000 per sq.ft, again a 49% increase from the previous figure. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Pammi Sivaramalu Street's 2024 figure above this median.

• Pallavan Nagar: Rs 1,300 per sq.ft (2024)
• P.A.N.Rajarathinam Road 1st Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 2nd Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 3rd Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 4th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 5th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pammi Sivaramalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total charges would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pammi Sivaramalu Street?

The Sub Registrar Office that covers Pammi Sivaramalu Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all transactions are documented accurately and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Pammi Sivaramalu Street?

The current guideline value of Pammi Sivaramalu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Pammi Sivaramalu Street?

The land classification for Pammi Sivaramalu Street is Residential Class I Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Pammi Sivaramalu Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Pammi Sivaramalu Street?

The Sub Registrar Office for Pammi Sivaramalu Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.