Guideline Value for Sellappa Street / Lord Srinivasa Colony

Sellappa Street / Lord Srinivasa Colony guideline value

The current guideline value of Sellappa Street / Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Sellappa Street / Lord Srinivasa Colony has changed

The guideline value for Sellappa Street / Lord Srinivasa Colony has seen significant changes over the years. In 2002, the guideline value was Rs 174 per sq.ft, which increased to Rs 197 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting an increase of +83%. By 2017, the guideline value reached Rs 1,206 per sq.ft, which was a substantial increase of +235% from the previous revision. The value remained unchanged in the 2012 revision, as the register has no figure for this street in it.

In the subsequent revisions, the guideline value continued to rise, reaching Rs 1,800 per sq.ft in 2023, an increase of +49% from 2017. The latest revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, a change of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1,038%.

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 Pammal is Rs 2,090 per sq.ft, placing Sellappa Street / Lord Srinivasa Colony's 2024 figure below that median.

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

Stamp duty and registration fee for property in Sellappa Street / Lord Srinivasa Colony

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, while the registration fee at 2% would be Rs 39,600, bringing the total 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.

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

Which Sub Registrar Office covers Sellappa Street / Lord Srinivasa Colony?

The Sub Registrar Office that covers Sellappa Street / Lord Srinivasa Colony 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 when buying or selling property in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is also used to determine the market value for taxation purposes. This ensures that all transactions are recorded accurately and that the property is valued fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of Sellappa Street / Lord Srinivasa Colony?

The current guideline value of Sellappa Street / Lord Srinivasa Colony 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 174 per sq.ft to Rs 1,980 per sq.ft in 2024, which is an overall increase of +1,038%.

What is the classification of land in Sellappa Street / Lord Srinivasa Colony?

The land classification for Sellappa Street / Lord Srinivasa Colony is Residential Class II Type - II.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal with similar guideline values include Sellappan Street at Rs 1,760 per sq.ft and several streets at Rs 1,980 per sq.ft.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sellappa Street / Lord Srinivasa Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.