Guideline Value for Pragalathan Street /VOC Nagar

Pragalathan Street /VOC Nagar guideline value

The current guideline value of Pragalathan Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Pragalathan Street /VOC Nagar has changed

The guideline value for Pragalathan Street /VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft. It increased to Rs 210 per sq.ft in 2003, marking a 14% rise. By 2007, the value had further risen to Rs 360 per sq.ft, which was a 71% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, reflecting a substantial increase of 594% from 2007. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, representing a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has surged by 1,386%.

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. Pragalathan Street /VOC Nagar's current guideline value is above this median.

• Pragalathan Street, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Prabhu Street: Rs 1,760 per sq.ft (2024)
• Prabhudas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Prabhakaran Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Pozhichallur Main Road, Pasumpon Nagar: Rs 2,750 per sq.ft (2024)
• Prashanthi Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pragalathan Street /VOC Nagar

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, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be 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 use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Pragalathan Street /VOC Nagar?

The Sub Registrar Office that covers Pragalathan Street /VOC Nagar 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 during property transactions in Pammal. It is used to determine the stamp duty and registration fees payable when you buy or sell property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value to ensure accurate financial planning. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Pragalathan Street /VOC Nagar?

The current guideline value of Pragalathan Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 185 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,386%.

What is the land classification for Pragalathan Street /VOC Nagar?

The land classification for Pragalathan Street /VOC Nagar is Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for this street located?

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