Guideline Value for Devaraj Street, Pasumpon Nagar

Devaraj Street, Pasumpon Nagar guideline value

The current guideline value of Devaraj Street, Pasumpon Nagar 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 Devaraj Street, Pasumpon Nagar has changed

The guideline value for Devaraj Street, Pasumpon Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current 2024 revision reflects a further increase to Rs 1,980 per sq.ft, representing a 10% rise from the previous year.

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

Guideline values in Pammal

In Pammal, there are a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which means that Devaraj Street, Pasumpon Nagar's 2024 figure is below that median.

• Devarajan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Devarajan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devarajan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Devarajan Street / Central Bank Colony: Rs 1,980 per sq.ft (2024)
• Devadas Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Devadas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj 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, while the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaraj Street, Pasumpon Nagar?

The Sub Registrar Office that covers Devaraj 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 is a crucial factor when registering property transactions in Pammal. It determines the minimum value at which a property can be sold or purchased, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's worth.

When you buy or sell property, the guideline value is referenced to calculate the applicable fees. This ensures transparency and consistency in property transactions, protecting both buyers and sellers in the real estate market.

Frequently asked questions

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

The current guideline value of Devaraj 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 increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024. This reflects a total increase of 64% over the seven years.

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. These fees are based on the higher of the guideline value or the sale price.

Which office handles property registrations for Devaraj Street, Pasumpon Nagar?

The Pammal Sub Registrar Office handles property registrations for Devaraj Street, Pasumpon Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft. Devaraj Street, Pasumpon Nagar's guideline value is below this median at Rs 1,980 per sq.ft.