Guideline Value for S.S.R.Pankajam Street

S.S.R.Pankajam Street guideline value

The current guideline value for S.S.R.Pankajam Street is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Mixed Special Type - III.

How the guideline value of S.S.R.Pankajam Street has changed

The guideline value for S.S.R.Pankajam Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,038 per sq.ft, which increased to Rs 1,134 per sq.ft in 2003, marking a 9% rise. Following this, the value rose to Rs 1,800 per sq.ft in 2007, reflecting a significant increase of 59%. The value then saw a dramatic jump to Rs 5,500 per sq.ft in 2012, which was a 206% increase. However, it decreased to Rs 3,685 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 5,500 per sq.ft in 2023, and finally, it reached the current value of Rs 6,050 per sq.ft in 2024, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 483%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning S.S.R.Pankajam Street above this median value.

• State Bank Colony 1st Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Telephone Colony Extension: Rs 4,400 per sq.ft (2024)
• Thangal Karai Street: Rs 3,300 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.S.R.Pankajam Street

For a 1,000 sq.ft plot at the current rate of Rs 6,050 per sq.ft, the guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, totaling Rs 5,44,500. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers S.S.R.Pankajam Street?

The Sub Registrar Office that covers S.S.R.Pankajam Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of S.S.R.Pankajam Street?

The current guideline value of S.S.R.Pankajam Street is Rs 6,050 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 1,038 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, showing an overall increase of 483% over this period.

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

Other streets in Saligramam include State Bank Colony 1st Street, 2nd Street, and 3rd Street, all at Rs 5,500 per sq.ft, Telephone Colony Extension at Rs 4,400 per sq.ft, and Thangal Karai Street and Thilagar Street at Rs 3,300 per sq.ft.

What is the registration fee for property in S.S.R.Pankajam Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 60,50,000, the registration fee would be Rs 1,21,000.

Where can I find the Sub Registrar Office for S.S.R.Pankajam Street?

The Sub Registrar Office for S.S.R.Pankajam Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.