Guideline Value for Devarajan Street /Pasumpon Nagar

Devarajan Street /Pasumpon Nagar guideline value

The current guideline value for Devarajan Street /Pasumpon Nagar is Rs 1,980 per sq.ft. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Devarajan Street /Pasumpon Nagar has changed

The guideline value for Devarajan Street /Pasumpon Nagar has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a 59% increase, followed by a substantial jump to Rs 1,206 per sq.ft in 2017, which represents a 235% increase. The 2023 revision set the value at Rs 1,800 per sq.ft, showing a 49% increase from 2017. The latest revision in 2024 has further increased the value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision in the register. Overall, from 2002 to 2024, the guideline value has increased by 890%.

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. The median guideline value in this area is Rs 2,090 per sq.ft, placing the guideline value of Devarajan Street /Pasumpon Nagar below this median.

• Devarajan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Devarajan Street / VOC Nagar: Rs 2,750 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)
• Devadas Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan 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 cost for these fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devarajan Street /Pasumpon Nagar?

The Sub Registrar Office that covers Devarajan Street /Pasumpon Nagar 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 additional 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 when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which property transactions are registered. This ensures that the value is consistent and transparent, helping to prevent undervaluation of properties.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still pay fees based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Devarajan Street /Pasumpon Nagar?

The current guideline value for Devarajan Street /Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 890%.

What is the classification of land in Devarajan Street /Pasumpon Nagar?

The land classification for Devarajan Street /Pasumpon Nagar is Residential Class II Type - II.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.