Guideline Value for Sangamithrai Street

Sangamithrai Street guideline value

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

How the guideline value of Sangamithrai Street has changed

The guideline value for Sangamithrai Street has undergone several revisions over the years. In 2002, the value was Rs 137 per sq.ft. This increased to Rs 155 per sq.ft in 2003, marking a change of +13%. The value continued to rise, reaching Rs 260 per sq.ft in 2007, which was a significant increase of +68%. By 2017, the guideline value had risen dramatically to Rs 1,072 per sq.ft, reflecting a change of +312%. In 2023, the value further increased to Rs 1,600 per sq.ft, an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a change of +10% from the previous year. There is no figure available for the 2012 revision for this street.

Guideline values in Pammal

Pammal village has a total of 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, placing Sangamithrai Street's 2024 figure below this median.

• Samundeswari Nagar ,Cross Street: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar Krishna Street: Rs 2,530 per sq.ft (2024)
• SanjayGandhi Street / Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Samundeeswari Nagar: Rs 1,980 per sq.ft (2024)
• Samuel Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Sankara Nagar Stage I: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sangamithrai 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 fees to Rs 1,58,400. It is important to note that 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 Sangamithrai Street?

The Sub Registrar Office that covers Sangamithrai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a reference for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the property's value as determined by the guideline.

Frequently asked questions

What is the current guideline value of Sangamithrai Street?

The current guideline value of Sangamithrai 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 increased from Rs 137 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting a significant rise over the years through various revisions.

What is the land classification for Sangamithrai Street?

Sangamithrai Street is classified as Residential Class III Type - II, which indicates its designation for residential purposes within the area.

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.

How is stamp duty calculated for properties in Sangamithrai Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,58,400.