Guideline Value for Karuappan Street / Pasumpon Nagar

Karuappan Street / Pasumpon Nagar guideline value

The current guideline value of Karuappan 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 Karuappan Street / Pasumpon Nagar has changed

The guideline value for Karuappan Street / Pasumpon Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a change of 13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a substantial increase of 59%. Following this, the value surged to Rs 1,206 per sq.ft in 2017, which was a remarkable increase of 235%. The 2023 revision set the value at Rs 1,800 per sq.ft, an increase of 49% from the previous revision. The current guideline value is Rs 1,980 per sq.ft as of the 2024 revision, which is a 10% increase from 2023.

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

Guideline values in Pammal

In Pammal, there are 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 value for these streets is Rs 2,090 per sq.ft, placing the guideline value of Karuappan Street / Pasumpon Nagar below this median.

• Karuppan Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Karikalan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kasthuribai Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• Kasturibai Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Karian Street, Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kasturibai Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Karuappan 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, resulting in a total cost of 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karuappan Street / Pasumpon Nagar?

The Sub Registrar Office that covers Karuappan 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 details.

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

The guideline value is a crucial factor in property transactions in Pammal. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Ensuring that the sale price aligns with the guideline value can help avoid complications during the registration process.

Frequently asked questions

What is the current guideline value of Karuappan Street / Pasumpon Nagar?

The current guideline value of Karuappan 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 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 890% over this period.

What is the stamp duty rate for properties in Karuappan Street / Pasumpon Nagar?

The stamp duty rate for properties in Karuappan Street / Pasumpon Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

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

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, with Karuappan Street / Pasumpon Nagar's value being below this median.