Guideline Value for Thandai Periyar Street / Sholavaram Nagar

Thandai Periyar Street / Sholavaram Nagar guideline value

The current guideline value of Thandai Periyar Street / Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Thandai Periyar Street / Sholavaram Nagar has changed

The guideline value for Thandai Periyar Street / Sholavaram Nagar has seen significant changes over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 470 per sq.ft in 2007, a substantial increase of 126%. By 2017, the guideline value had risen further to Rs 1,206 per sq.ft, reflecting a 157% increase from the previous revision.

In the subsequent revisions, the guideline value reached Rs 1,800 per sq.ft in 2023, which was a 49% increase from 2017. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, showing a 10% increase from the previous year. Notably, the register has no figure for this street in the 2012 revision.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Thandai Periyar Street / Sholavaram Nagar's 2024 guideline value is below this median.

• Thandai Periyar Street /Muthamazhi Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Thandai Periyar Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Thandai Periyar Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Thandayar Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Thandai Periyar Nagar (All Streets): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thandai Periyar Street / Sholavaram Nagar

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, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Thandai Periyar Street / Sholavaram Nagar?

The Thandai Periyar Street / Sholavaram Nagar falls under 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 in property transactions in Pammal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not below the guideline value to avoid any legal complications. This value serves as a benchmark for both buyers and sellers, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thandai Periyar Street / Sholavaram Nagar?

The current guideline value of Thandai Periyar Street / Sholavaram Nagar 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 from Rs 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 976% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Thandai Periyar Street / Sholavaram Nagar's value being below this median.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 19,80,000, the total fees would be Rs 1,78,200.

Which office handles property registrations for Thandai Periyar Street / Sholavaram Nagar?

The Pammal Sub Registrar Office handles property registrations for Thandai Periyar Street / Sholavaram Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.