Guideline Value for VeeraPandiya Kattabomman Street

VeeraPandiya Kattabomman Street guideline value

The current guideline value of VeeraPandiya Kattabomman Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal Sub Registrar Office (SRO), classified as Residential Class I Type - II.

How the guideline value of VeeraPandiya Kattabomman Street has changed

The guideline value for VeeraPandiya Kattabomman Street has seen several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 804 per sq.ft. In the subsequent revision of 2023, this value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Pozhichalur

Within Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value among these streets is Rs 1,320 per sq.ft, which is equal to the current guideline value of VeeraPandiya Kattabomman Street.

• Vedachalam Street: Rs 1,100 per sq.ft (2024)
• Vasu Street: Rs 1,100 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in VeeraPandiya Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, calculated at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Therefore, the total cost for duty and registration would be Rs 1,18,800. 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 VeeraPandiya Kattabomman Street?

The Sub Registrar Office that covers VeeraPandiya Kattabomman 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 details.

How the guideline value is used when you buy or sell in Pozhichalur

The guideline value plays a crucial role in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. This ensures that all transactions are recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value of VeeraPandiya Kattabomman Street?

The current guideline value of VeeraPandiya Kattabomman Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for VeeraPandiya Kattabomman Street?

The Pammal Sub Registrar Office handles registrations for VeeraPandiya Kattabomman Street. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets in Pozhichalur with different guideline values?

Yes, there are other streets in Pozhichalur with varying guideline values. For instance, Vedachalam Street and Vasu Street have a guideline value of Rs 1,100 per sq.ft, while Venkateswara Nagar and its related streets have a value of Rs 2,200 per sq.ft.