Guideline Value for Shivasanakaran Cross Street / LIC Colony

Shivasanakaran Cross Street / LIC Colony guideline value

The current guideline value of Shivasanakaran Cross Street / LIC Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Shivasanakaran Cross Street / LIC Colony has changed

The guideline value has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 213 per sq.ft in 2003, reflecting a growth of 13%. By 2007, the value rose to Rs 360 per sq.ft, marking a 69% increase from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

In 2023, the guideline value was Rs 2,300 per sq.ft, which represented a substantial increase of 539% from the 2007 figure. The most recent revision in 2024 saw the guideline value rise to Rs 2,530 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1246%.

Guideline values in Pammal

Pammal village has a total of 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 value for these streets is Rs 2,090 per sq.ft, placing the guideline value of Shivasanakaran Cross Street / LIC Colony above the median.

• Shivaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Shivasanakaran Street / Thiru Nagar: Rs 1,980 per sq.ft (2024)
• Shivasanakaran Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Shongvel Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Shastri Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Sigamani Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shivasanakaran Cross Street / LIC Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total cost for these fees Rs 2,27,700. Please 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 Shivasanakaran Cross Street / LIC Colony?

The Sub Registrar Office that covers Shivasanakaran Cross Street / LIC 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 is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Shivasanakaran Cross Street / LIC Colony?

The current guideline value of Shivasanakaran Cross Street / LIC Colony is Rs 2,530 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 188 per sq.ft to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1246%.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,27,700.

Which office handles the registration for this street?

The Pammal Sub Registrar Office handles the registration for Shivasanakaran Cross Street / LIC Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Pammal?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across different streets in Pammal.