Guideline Value for South Street

South Street guideline value

The current guideline value of South Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of South Street has changed

Over the years, the guideline value of South Street has seen several revisions. The earliest recorded figure is from 2003, where the guideline value was Rs 542 per sq.ft. This figure increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 85%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 200%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, from 2003 to 2024, the overall increase in the guideline value for South Street is 509%. The register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is the same as the current value for South Street.

• Somasundaram Street (Part): Rs 3,300 per sq.ft (2024)
• Somasundaram Street: Rs 3,300 per sq.ft (2024)
• Solidam Workers Colony: Rs 3,300 per sq.ft (2024)
• Siva Shanmugam Cross Street: Rs 3,300 per sq.ft (2024)
• Sivasanmugam Street: Rs 2,160 per sq.ft (2024)
• Sivasankaran Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 South Street?

The Sub Registrar Office that covers South Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is typically used as a basis for these calculations.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, reflecting the current market conditions as determined by the registration department. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of South Street?

The current guideline value of South Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 542 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 509% over the years.

What is the land classification of South Street?

South Street is classified as Residential Class I Type - II under the Pallavaram SRO.

Where can I find the registration office for South Street?

The registration office for South Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property in South Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.