Guideline Value for Valliamman Street / Lord Srinivasa Colony

Valliamman Street / Lord Srinivasa Colony guideline value

The current guideline value of Valliamman Street / Lord Srinivasa Colony is Rs 1,980 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 II Type - II.

How the guideline value of Valliamman Street / Lord Srinivasa Colony has changed

The guideline value for Valliamman Street / Lord Srinivasa Colony has undergone significant changes over the years. Starting from Rs 174 per sq.ft in 2002, it rose to Rs 197 per sq.ft in 2003, marking a 13% increase. By 2007, the value further increased to Rs 260 per sq.ft, which is a 32% rise from the previous revision. However, there is no recorded figure for the years 2012 and 2017.

In the 2023 revision, the guideline value was Rs 1,800 per sq.ft, reflecting a substantial increase of 592% from 2007. The most recent revision in 2024 saw the value rise to Rs 1,980 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,038%.

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 of Rs 2,090 per sq.ft. Valliamman Street / Lord Srinivasa Colony's 2024 figure is below this median.

• Valliammai Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Vallal Pari Street / Muthamzhi Nagar: Rs 1,980 per sq.ft (2024)
• Vallal Pari Street, Muthamiaz Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street, Gandhi Nagar Ext: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Valliamman Street / Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please note that 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 details.

Which Sub Registrar Office covers Valliamman Street / Lord Srinivasa Colony?

The Sub Registrar Office that covers Valliamman Street / Lord Srinivasa Colony 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 property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It's essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The guideline value serves as a reference point for both parties during negotiations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Valliamman Street / Lord Srinivasa Colony?

The current guideline value of Valliamman Street / Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 1,038%.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Valliamman Street?

The Pammal Sub Registrar Office handles property registrations for Valliamman Street / Lord Srinivasa Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration, which in turn influences the stamp duty and registration fees. Buyers and sellers should be aware of this value to ensure accurate financial planning during property transactions.