Guideline Value for Secretariat Colony (All Streets)

Secretariat Colony (All Streets) guideline value

The current guideline value for Secretariat Colony (All Streets) is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Secretariat Colony (All Streets) has changed

The guideline value for Secretariat Colony has seen significant changes over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 185 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 260 per sq.ft in 2007, a 41% increase from the previous revision. By 2017, the value jumped to Rs 1,072 per sq.ft, reflecting a substantial 312% rise from 2007. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a 64% increase from 2017. Notably, there are no figures available for the years 2012 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 980%, showcasing a remarkable growth trajectory over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing Secretariat Colony's current value below this median.

• Seethalai Sathanar Street: Rs 1,980 per sq.ft (2024)
• Seethalai Sathanar Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Sehik Mohammed Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Sellammal Street / Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Sellappan Street: Rs 1,760 per sq.ft (2024)
• Sellappa Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony (All Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony (All Streets)?

The Sub Registrar Office that covers Secretariat Colony 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 plays a crucial role during property transactions in Pammal. It is utilized to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred. Understanding the guideline value is essential for anyone involved in real estate transactions in Pammal.

Frequently asked questions

What is the current guideline value for Secretariat Colony?

The current guideline value for Secretariat Colony (All Streets) 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 163 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 980% over this period.

What is the land classification for Secretariat Colony?

Secretariat Colony is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Pammal?

The Sub Registrar Office for Pammal is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details online.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the total fees would include both stamp duty and registration fees calculated accordingly.