Guideline Value for Sargunam Street

Sargunam Street guideline value

The current guideline value of Sargunam Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Sargunam Street has changed

The guideline value of Sargunam Street has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, which is a 59% increase from the previous revision. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial 235% increase from 2007. However, there is no figure available for the year 2012 in the register.

From 2017 to 2023, the guideline value increased to Rs 1,800 per sq.ft, a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with 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 Sargunam Street's 2024 value below this median.

• Sargunar Salai, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Sastha Nagar: Rs 1,760 per sq.ft (2024)
• Sastri Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Saraswathimuthupalaniyappa Nagar: Rs 1,980 per sq.ft (2024)
• Satesab Lane -Kalayanipuram: Rs 1,760 per sq.ft (2024)
• Sathyamoorthy Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sargunam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. 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 further calculations.

Which Sub Registrar Office covers Sargunam Street?

The Sub Registrar Office that covers Sargunam 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 details.

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

The guideline value is a crucial factor when buying or selling property in Pammal, as it determines the minimum value at which property transactions are registered. This value is used to calculate stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in establishing a fair price for taxation purposes. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Sargunam Street?

The current guideline value of Sargunam Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890%.

What are the stamp duty and registration fees for property in Sargunam Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Sargunam Street?

The Pammal Sub Registrar Office handles registrations for Sargunam Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that properties are registered at a fair and compliant value.