Guideline Value for Rajaji Street / Hemanathapillai Avenue

Rajaji Street / Hemanathapillai Avenue guideline value

The current guideline value for Rajaji Street / Hemanathapillai Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Rajaji Street / Hemanathapillai Avenue has changed

The guideline value for Rajaji Street / Hemanathapillai Avenue has seen significant changes over the years. In 2002, the value was Rs 160 per sq.ft. This increased to Rs 181 per sq.ft in 2003, marking a change of 13%. The value further rose to Rs 260 per sq.ft in 2007, a 44% increase. By 2017, the guideline value reached Rs 1,072 per sq.ft, reflecting a substantial increase of 312%. In 2023, it was updated to Rs 1,600 per sq.ft, which was a 49% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, a 10% increase from 2023.

The register has no figure for Rajaji Street / Hemanathapillai Avenue for the year 2012. Overall, from 2002 to 2024, the guideline value has increased by 1,000%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in the village is Rs 2,090 per sq.ft, placing Rajaji Street / Hemanathapillai Avenue's current value below this median.

• Rajaji Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Square: Rs 1,760 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)
• Rajalingam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Street / Hemanathapillai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. 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 details.

Which Sub Registrar Office covers Rajaji Street / Hemanathapillai Avenue?

The Sub Registrar Office that covers Rajaji Street / Hemanathapillai Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is utilized during the registration process of property transactions in Pammal. It serves as a basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajaji Street / Hemanathapillai Avenue?

The current guideline value for Rajaji Street / Hemanathapillai Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 160 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1,000%.

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

Other streets in Pammal have varying guideline values, with some streets like Rajaji Street / Anna Nagar and Rajaji Street / VOC Nagar both at Rs 2,750 per sq.ft in 2024.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.

Where can I find my Sub Registrar Office?

The Pammal Sub Registrar Office covers Rajaji Street / Hemanathapillai Avenue. You can find the office at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.