Guideline Value for Veeraragavan Street /Hindustan Lever Colony

Veeraragavan Street /Hindustan Lever Colony guideline value

The current guideline value of Veeraragavan Street /Hindustan Lever Colony is Rs 2,530 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 - I.

How the guideline value of Veeraragavan Street /Hindustan Lever Colony has changed

The guideline value for Veeraragavan Street /Hindustan Lever Colony has undergone significant changes over the years. In the 2002 revision, the value was Rs 208 per sq.ft, which increased to Rs 236 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 360 per sq.ft, representing a 53% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

In the subsequent revisions, the guideline value saw a substantial increase. The 2023 revision set the value at Rs 2,300 per sq.ft, which was a remarkable 539% increase from the 2007 figure. The latest revision in 2024 has raised the value to Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,116%.

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 as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, which indicates that Veeraragavan Street /Hindustan Lever Colony's 2024 figure is above this median.

• Veerapandya Kattabooman Street / Muthumazhi Nagar: Rs 2,475 per sq.ft (2024)
• Veeramani Street / Thriuvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Veeramamunivar Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Vellangani Street: Rs 1,760 per sq.ft (2024)
• Vedhagiri Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Velmurugan Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraragavan Street /Hindustan Lever 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, bringing the total charges to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Veeraragavan Street /Hindustan Lever Colony?

The Sub Registrar Office that covers Veeraragavan Street /Hindustan Lever Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the value of the property as recognized by the local authorities.

Frequently asked questions

What is the current guideline value of Veeraragavan Street /Hindustan Lever Colony?

The current guideline value of Veeraragavan Street /Hindustan Lever Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 208 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, representing an overall increase of 1,116%.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Veerapandya Kattabooman Street / Muthumazhi Nagar, Veeramani Street / Thriuvalluvar Nagar, Veeramamunivar Street / Muthamzhi Nagar, Vellangani Street, Vedhagiri Street, and Velmurugan Street, with values ranging from Rs 1,760 to Rs 2,475 per sq.ft as of 2024.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total charge of Rs 2,27,700.

Where can I find the Sub Registrar Office for this street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find your SRO online for more information.