Guideline Value for Saddam Hussain Nagar

Saddam Hussain Nagar guideline value

The current guideline value of Saddam Hussain Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Saddam Hussain Nagar has changed

The guideline value for Saddam Hussain Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 367 per sq.ft. This increased significantly to Rs 38 per sq.ft in 2003, followed by a remarkable rise to Rs 200 per sq.ft in 2007, marking an increase of 426%. In 2012, the value was Rs 500 per sq.ft, which was a 150% increase from the previous revision. However, the value dropped to Rs 335 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value then rose to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, which is an increase of 10% from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 50%. There are no figures available for the years not specifically mentioned in the register for this street.

Guideline values in Pammathukulam

Pammathukulam village has 101 streets under the Redhills SRO, with a 2024 guideline value range from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Saddam Hussain Nagar.

• Royal Nagar: Rs 550 per sq.ft (2024)
• R.G. Nagar: Rs 550 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 550 per sq.ft (2024)
• Shanmuga Nagar: Rs 440 per sq.ft (2024)
• Rahumath Avenue: Rs 550 per sq.ft (2024)
• Raghavendra Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Saddam Hussain Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making a total of Rs 49,500. 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 details.

Which Sub Registrar Office covers Saddam Hussain Nagar?

The Sub Registrar Office that covers Saddam Hussain Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer and seller agree on a sale price, the registration office will charge the stamp duty based on the higher amount between the sale price and the guideline value. This ensures that the government receives the appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Saddam Hussain Nagar?

The current guideline value of Saddam Hussain Nagar is Rs 550 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 367 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 50% over the years.

What is the registration fee for property in Saddam Hussain Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 5,50,000, the registration fee would be Rs 11,000.

Which office handles property registrations in Saddam Hussain Nagar?

The Redhills Sub Registrar Office handles property registrations for Saddam Hussain Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Pammathukulam?

Stamp duty is calculated at 7% of the higher amount between the guideline value and the sale price. This ensures that the appropriate fees are collected during property transactions.