Guideline Value for Stalin Street (2nd Street)

Stalin Street (2nd Street) guideline value

The current guideline value of Stalin Street (2nd Street) in Pammal village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Stalin Street (2nd Street) has changed

The guideline value of Stalin Street (2nd Street) has seen significant changes over the years. In 2002, the value was Rs 153 per sq.ft, which increased to Rs 173 per sq.ft in 2003, marking a rise of 13%. By 2007, the value further increased to Rs 260 per sq.ft, a change of 50%. The 2017 revision saw a substantial jump to Rs 1,206 per sq.ft, reflecting a 364% increase from the previous revision. The register has no figure for this street in 2012 and 2023.

As of the latest revision in 2024, the guideline value stands at Rs 1,980 per sq.ft, which is a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1194%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with 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 2024 guideline value of Stalin Street (2nd Street) below that median.

• Stalin Street (1st Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (3rd Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)
• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• S.S.Avenue: Rs 1,980 per sq.ft (2024)
• State Bank Colony (All Streets): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Stalin Street (2nd Street)

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, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that 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 Stalin Street (2nd Street)?

The Sub Registrar Office that covers Stalin Street (2nd Street) 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 is a crucial reference point when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees applicable during the transaction process.

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

Frequently asked questions

What is the current guideline value of Stalin Street (2nd Street)?

The current guideline value of Stalin Street (2nd Street) 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 increased significantly from Rs 153 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1194% over the years.

What is the land classification for Stalin Street (2nd Street)?

Stalin Street (2nd Street) is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Stalin Street (2nd Street)?

The Sub Registrar Office for Stalin Street (2nd Street) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.