Guideline Value for Swami Vivekanadar Street

Swami Vivekanadar Street guideline value

The current guideline value of Swami Vivekanadar Street is Rs 1,760 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 III Type - II.

How the guideline value of Swami Vivekanadar Street has changed

The guideline value for Swami Vivekanadar Street has seen significant changes over the years. In 2002, the guideline value was Rs 115 per sq.ft, which increased to Rs 130 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, reflecting a 100% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,072 per sq.ft, a substantial 312% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a 64% increase from 2017.

There are no figures available for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,430%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Swami Vivekanadar Street's 2024 figure below this median.

• Swaminathan Nagar (All Streets): Rs 1,870 per sq.ft (2024)
• Suryamman Koil Street: Rs 1,760 per sq.ft (2024)
• Surikulum: Rs 1,760 per sq.ft (2024)
• T.Durairaj Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Teacher Chinnaswamy Street, Sambandhanar Nagar: Rs 1,980 per sq.ft (2024)
• Teacher Samuel Street, Pammal: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Swami Vivekanadar 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, bringing the total to Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Swami Vivekanadar Street?

The Sub Registrar Office that covers Swami Vivekanadar 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 crucial during the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. If the sale price is higher than the guideline value, the duty is charged on the sale price instead. Thus, understanding the guideline value is essential for both buyers and sellers in Pammal.

Frequently asked questions

What is the current guideline value of Swami Vivekanadar Street?

The current guideline value of Swami Vivekanadar 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 115 per sq.ft to Rs 1,760 per sq.ft in 2024, representing an overall increase of 1,430%.

What is the land classification of Swami Vivekanadar Street?

Swami Vivekanadar Street is classified as Residential Class III Type - II, indicating its use for residential purposes.

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

The Sub Registrar Office for Swami Vivekanadar Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for properties in the area.

How is the stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.