Guideline Value for S.K.P. Square

S.K.P. Square guideline value

The current guideline value of S.K.P. Square in Pammal village is Rs 1,760 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of S.K.P. Square has changed

The guideline value of S.K.P. Square has seen significant changes over the years. In 2002, the guideline value was Rs 103 per sq.ft. This value increased to Rs 117 per sq.ft in 2003, marking a 14% rise. The value then jumped to Rs 260 per sq.ft in 2007, reflecting a substantial increase of 122%. By 2017, the guideline value had further escalated to Rs 1,072 per sq.ft, which is a remarkable 312% increase from 2007. The next revision in 2023 set the guideline value at Rs 1,600 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

It is important to note that 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, with a median value of Rs 2,090 per sq.ft. The guideline value of S.K.P. Square is below this median.

• Sivasankaran Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Sivasankaran Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Sivasankaran Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Sivasankaran Nagar, Cross Street: Rs 1,980 per sq.ft (2024)
• Sooran Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Singal Office West Street, Anna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in S.K.P. Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.K.P. Square?

The S.K.P. Square area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that are applicable during the transaction. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the real estate market.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 S.K.P. Square?

The current guideline value of S.K.P. Square is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased over the years?

From 2002 to 2024, the guideline value has increased by 1,609%. Significant increases occurred in various years, with the largest being a 312% rise from 2007 to 2017.

What is the land classification for S.K.P. Square?

S.K.P. Square is classified as Residential Class III Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in S.K.P. Square?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,58,400.

Where can I find the Pammal Sub Registrar Office?

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