Guideline Value for Shakulahmed Street / Lord Srinivasa Colony

Shakulahmed Street / Lord Srinivasa Colony guideline value

The current guideline value of Shakulahmed Street / Lord Srinivasa Colony is Rs 1,980 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 II Type - II.

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

The guideline value for Shakulahmed Street / Lord Srinivasa Colony has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 174 per sq.ft. This increased to Rs 197 per sq.ft in 2003, marking a change of +13%. The value saw a significant rise in 2007, reaching Rs 360 per sq.ft, which was an increase of +83%. By 2017, the guideline value had escalated to Rs 1,206 per sq.ft, reflecting a substantial change of +235% from the previous revision. The 2023 revision set the value at Rs 1,800 per sq.ft, a +49% increase from 2017. The current 2024 revision has further increased the guideline value to Rs 1,980 per sq.ft, which is a +10% rise from 2023. Notably, there is no figure available for the 2012 revision 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, placing Shakulahmed Street / Lord Srinivasa Colony's 2024 figure below that median.

• Shamugapriya Street, V.O.C Nagar: Rs 1,980 per sq.ft (2024)
• Shankaravidayala Colony: Rs 1,760 per sq.ft (2024)
• Shankar Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 12th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 13th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shakulahmed 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 amounts to Rs 19,80,000. The stamp duty at 7% would be 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 duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Shakulahmed Street / Lord Srinivasa 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

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

Frequently asked questions

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

The current guideline value of Shakulahmed Street / Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of +1038% over the years.

What is the land classification for this area?

Shakulahmed Street / Lord Srinivasa Colony is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What other streets have guideline values in Pammal?

Other streets in Pammal include Shamugapriya Street, V.O.C Nagar at Rs 1,980 per sq.ft, Shankaravidayala Colony at Rs 1,760 per sq.ft, and several streets in Shankar Nagar, all at Rs 2,750 per sq.ft.

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

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