Guideline Value for Sellappan Street

Sellappan Street guideline value

The current guideline value of Sellappan Street in Pammal village, under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Sellappan Street has changed

The guideline value of Sellappan Street has seen significant changes over the years. In 2002, the value was Rs 148 per sq.ft. This increased to Rs 168 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 260 per sq.ft in 2007, which was a substantial increase of +55%. By 2017, the guideline value had jumped to Rs 1,072 per sq.ft, reflecting a remarkable increase of +312% from the 2007 figure.

From 2017 to 2023, the guideline value increased to Rs 1,600 per sq.ft, representing a change of +49%. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a +10% increase from the previous year. It is important to note that there are no figures available for the year 2012 in the register for this street.

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 for these streets is Rs 2,090 per sq.ft, indicating that Sellappan Street's current value is below this median.

• Sellammal Street / Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Sellappa Street / Lord Srinivasa Colony: 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 Sellappan 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. Together, the total cost for stamp duty and registration would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sellappan Street?

The Sub Registrar Office that covers Sellappan Street 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 is a critical factor when registering property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales. Buyers and sellers must consider the guideline value to understand the financial implications of their transactions.

When a property is sold, the guideline value helps in determining the minimum price at which the property can be registered. This means that even if the sale price is lower than the guideline value, the stamp duty and registration fees will be calculated based on the guideline value, protecting the interests of the state in property transactions.

Frequently asked questions

What is the current guideline value of Sellappan Street?

The current guideline value of Sellappan Street is Rs 1,760 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 148 per sq.ft to Rs 1,760 per sq.ft in 2024, reflecting an overall change of +1089%.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft as of 2024, which is higher than the guideline value of Sellappan Street.

What are the stamp duty and registration fees for properties in Sellappan Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where is the Sub Registrar Office for Sellappan Street located?

The Sub Registrar Office for Sellappan Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.