Guideline Value for Sakthivel Street

Sakthivel Street guideline value

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

How the guideline value of Sakthivel Street has changed

The guideline value for Sakthivel Street has seen significant changes over the years. Starting from Rs 125 per sq.ft in 2002, it increased to Rs 142 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 260 per sq.ft, reflecting an 83% increase. The 2017 revision brought the value to Rs 1,072 per sq.ft, which was a substantial 312% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has escalated by 1308%. It is important to note that there are no figures available for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal village, 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. The median guideline value for these streets is Rs 2,090 per sq.ft, making Sakthivel Street's 2024 figure below this median.

• Samandam Street: Rs 1,870 per sq.ft (2024)
• Samandar Nagar: Rs 1,870 per sq.ft (2024)
• Samandar Street / Near Pammal Main Road: Rs 880 per sq.ft (2024)
• Samuel Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar Krishna Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Street

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, 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 or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Street?

The Sub Registrar Office that covers Sakthivel Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor in property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered to establish the official value of the property, which affects the total cost incurred by the buyer. It is essential to understand that the guideline value may differ from the actual sale price, and the higher value will be used for calculating duties.

Frequently asked questions

What is the current guideline value of Sakthivel Street?

The current guideline value of Sakthivel Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 125 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, which is an overall increase of 1308%.

What is the land classification of Sakthivel Street?

Sakthivel Street is classified as Residential Class III Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties on Sakthivel Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office is responsible for Sakthivel Street?

The Pammal Sub Registrar Office covers Sakthivel Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.