Guideline Value for Seethalai Sathanar Street / VOC Nagar

Seethalai Sathanar Street / VOC Nagar guideline value

The current guideline value of Seethalai Sathanar Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Seethalai Sathanar Street / VOC Nagar has changed

The guideline value for Seethalai Sathanar Street has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft. This figure increased to Rs 210 per sq.ft in 2003, reflecting a change of 14%. By 2007, the value rose sharply to Rs 360 per sq.ft, marking a 71% increase from the previous revision. The 2017 revision brought the value to Rs 1,675 per sq.ft, which is a substantial increase of 365% from 2007. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, representing a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has increased by 1,386%.

The register does not have figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, 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, and Seethalai Sathanar Street's 2024 figure is above this median.

• Seethalai Sathanar Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony (All Streets): Rs 1,760 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 Seethalai Sathanar Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seethalai Sathanar Street / VOC Nagar?

The Sub Registrar Office that covers Seethalai Sathanar Street / VOC Nagar 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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seethalai Sathanar Street?

The current guideline value of Seethalai Sathanar Street / VOC Nagar is Rs 2,750 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 significantly. From Rs 185 per sq.ft in 2002, it has risen to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,386%.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in Pammal?

The Pammal Sub Registrar Office handles property registrations in Pammal. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with different guideline values in Pammal?

Yes, there are several other streets in Pammal with varying guideline values. For example, the guideline value for Secretariat Colony is Rs 1,760 per sq.ft, while Seethalai Sathanar Street is Rs 2,750 per sq.ft in 2024.