Guideline Value for Thandai Periyar Street / LIC Colony

Thandai Periyar Street / LIC Colony guideline value

The current guideline value of Thandai Periyar 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Thandai Periyar Street / LIC Colony has changed

The guideline value for Thandai Periyar Street / LIC Colony has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 69% increase. By 2017, the value had jumped to Rs 1,541 per sq.ft, a substantial 328% increase from the previous revision. The 2023 revision set the value at Rs 2,300 per sq.ft, which was a 49% increase from 2017.

The most recent revision in 2024 saw the guideline value rise to Rs 2,530 per sq.ft, representing a 10% increase from the 2023 figure. It is important to note that the register has no figure for this street in 2012. 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, with guideline values 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 Thandai Periyar Street / LIC Colony's 2024 figure above this median.

• Thandai Periyar Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Thandai Periyar Street /Muthamazhi Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Nagar (All Streets): Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Thandayar Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Thandai Periyar 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 amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thandai Periyar Street / LIC Colony?

The Sub Registrar Office that covers Thandai Periyar Street / LIC Colony 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 factor when buying or selling property in Pammal, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thandai Periyar Street / LIC Colony?

The current guideline value of Thandai Periyar Street / LIC Colony is Rs 2,530 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 188 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, showing an overall increase of 1246% over this period.

What is the land classification for Thandai Periyar Street / LIC Colony?

The land classification for Thandai Periyar Street / LIC Colony is Residential Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thandai Periyar Street / LIC Colony?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at a rate of 7%.