Guideline Value for Thiru.Ve.Ka. Street / Thiruvalluvar Nagar

Thiru.Ve.Ka. Street / Thiruvalluvar Nagar guideline value

The current guideline value of Thiru.Ve.Ka. Street / Thiruvalluvar Nagar is Rs 2,475 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 I Type - II.

How the guideline value of Thiru.Ve.Ka. Street / Thiruvalluvar Nagar has changed

The guideline value has seen significant changes over the years. In 2002, the value was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. By 2007, the value reached Rs 360 per sq.ft, reflecting a 38% increase from the previous revision. The next recorded revision was in 2023, where the value jumped to Rs 2,250 per sq.ft, a substantial 525% increase from 2007. The latest revision in 2024 set the guideline value at Rs 2,475 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a 2024 guideline value 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 Thiru.Ve.Ka. Street / Thiruvalluvar Nagar above this median.

• Thiruvalluvar Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street / Near Pammal MainRoad: Rs 880 per sq.ft (2024)
• Thiruvalluvar Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Tholkapiyar Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Tholkappier Street, Pammal: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Ve.Ka. Street / Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees to Rs 2,22,750. It is essential 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 Thiru.Ve.Ka. Street / Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiru.Ve.Ka. Street / Thiruvalluvar Nagar 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 a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of registration.

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

Frequently asked questions

What is the current guideline value of Thiru.Ve.Ka. Street / Thiruvalluvar Nagar?

The current guideline value of Thiru.Ve.Ka. Street / Thiruvalluvar Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, representing an overall increase of 976%.

What is the land classification for Thiru.Ve.Ka. Street / Thiruvalluvar Nagar?

Thiru.Ve.Ka. Street / Thiruvalluvar Nagar is classified as Residential Class I Type - II.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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, for a property valued at Rs 24,75,000, the stamp duty at 7% would be Rs 1,73,250.