Guideline Value for SELF HELP INDUSTRIAL

Self Help Industrial guideline value

The current guideline value of Self Help Industrial in Kovilambakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Self Help Industrial has changed

The guideline value for Self Help Industrial has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, up from Rs 2,500 per sq.ft in 2023, marking a 10% increase. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, which shows a significant increase of 49% to the 2023 figure. The 2012 revision had the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The guideline value for Self Help Industrial is equal to the median value of Rs 2,750 per sq.ft for the area.

• Sathiya Nagar: Rs 2,160 per sq.ft (2024)
• Sinderi Colony: Rs 2,750 per sq.ft (2024)
• Rose Nagar 1 & 2 Main Road: Rs 2,970 per sq.ft (2024)
• Rose Nagar: Rs 2,970 per sq.ft (2024)
• Rajiv Nagar: Rs 2,970 per sq.ft (2024)
• Rajeswari Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Self Help Industrial

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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Self Help Industrial?

The Self Help Industrial area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kovilambakkam

The guideline value is an essential factor when registering property transactions in Kovilambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Self Help Industrial?

The current guideline value of Self Help Industrial is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing various fluctuations over the years.

What are the stamp duty and registration fees for properties in Self Help Industrial?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Self Help Industrial?

The registrations for Self Help Industrial are handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Self Help Industrial?

Self Help Industrial is classified as Residential Class I Type - I, which indicates its intended use for residential purposes.