Guideline Value for Bharathiyar Street, Pasumpon Nagar

Bharathiyar Street, Pasumpon Nagar guideline value

The current guideline value of Bharathiyar Street, Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under Pammal village and the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Bharathiyar Street, Pasumpon Nagar has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is a significant 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,090 per sq.ft, indicating that Bharathiyar Street's 2024 figure is below this median.

• Bharathiyar Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Bharathiyar Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Bharath Nagar: Rs 1,980 per sq.ft (2024)
• Bharathiyar Street: Rs 1,980 per sq.ft (2024)
• Bharathi Nagar /MGR Salai: Rs 1,980 per sq.ft (2024)
• Bhoopathi Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street, Pasumpon 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 to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street, Pasumpon Nagar?

The Sub Registrar Office that covers Bharathiyar Street, Pasumpon Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 plays a crucial role in the registration process of property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must be aware that the guideline value is the minimum value considered for taxation purposes. This means that even if the sale price is lower than the guideline value, the duty will still be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Bharathiyar Street, Pasumpon Nagar?

The current guideline value of Bharathiyar Street, Pasumpon 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 changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This shows an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft as per the 2024 revision. Bharathiyar Street's current value is below this median.

What are the stamp duty rates for property in Bharathiyar Street?

The stamp duty for property in Bharathiyar Street is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find more details online.