Guideline Value for Polytechnic Road

Polytechnic Road guideline value

The current guideline value of Polytechnic Road in Pammal village, under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Polytechnic Road has changed

The guideline value for Polytechnic Road has seen significant changes over the years. In 2002, the guideline value was Rs 153 per sq.ft. This figure increased to Rs 173 per sq.ft in 2003, marking a 13% rise. The value then experienced a substantial increase to Rs 570 per sq.ft in 2007, which is a 229% increase. Following this, the guideline value rose dramatically to Rs 1,340 per sq.ft in 2017, reflecting a 135% increase. The next revision in 2023 set the value at Rs 2,000 per sq.ft, which was a 49% increase from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

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. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the guideline value of Polytechnic Road above this median.

• Poluchazur Main Road: Rs 2,750 per sq.ft (2024)
• Pilliyar Koil Street, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Pillayar Koil Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Ponni Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Pillayar Koil Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Ponni Nagar 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Polytechnic Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Polytechnic Road?

The Sub Registrar Office covering Polytechnic Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 plays a crucial role in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Polytechnic Road?

The current guideline value of Polytechnic Road 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 increased from Rs 153 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,338% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Polytechnic Road's value being above this median.

What are the stamp duty rates for properties in Pammal?

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

Where is the Sub Registrar Office for Polytechnic Road located?

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