Guideline Value for Paul Victor Street

Paul Victor Street guideline value

The current guideline value of Paul Victor Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Paul Victor Street has changed

The guideline value for Paul Victor Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 3,850 per sq.ft. Notably, there are no figures available for this street for the years 2002 and 2003.

Between the revisions, the changes are as follows: from 2007 to 2012, there was a substantial increase of 775%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, from 2023 to 2024, there was a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 863%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Paul Victor Street's 2024 figure of Rs 3,850 per sq.ft is above this median.

• Patel Street: Rs 2,970 per sq.ft (2024)
• Patel Cross Street: Rs 2,970 per sq.ft (2024)
• Periyar Salai: Rs 3,850 per sq.ft (2024)
• Perundeviamman Street: Rs 1,650 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,970 per sq.ft (2024)
• Padmanban Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Paul Victor Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paul Victor Street?

The Sub Registrar Office that covers Paul Victor Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in the eyes of the registration authorities.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Paul Victor Street?

The current guideline value of Paul Victor Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 863% over the years.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Patel Street and Patel Cross Street at Rs 2,970 per sq.ft, Periyar Salai at Rs 3,850 per sq.ft, and Perundeviamman Street at Rs 1,650 per sq.ft, among others.

What is the stamp duty rate for properties in Paul Victor Street?

The stamp duty rate for properties in Paul Victor Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Paul Victor Street located?

The Sub Registrar Office for Paul Victor Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.