Guideline Value for Mahalingam Street / Pasumpon Nagar

Mahalingam Street / Pasumpon Nagar guideline value

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

The guideline value for Mahalingam 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. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 59% increase. The 2017 revision recorded a substantial increase to Rs 1,206 per sq.ft, indicating a 235% rise from the previous figure. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has brought the value to Rs 1,980 per sq.ft, representing a 10% increase from the previous year. Notably, there is no recorded figure for the year 2012 for this street.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 890%. This upward trend reflects the changing landscape of property values in the area over the years.

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 Mahalingam Street / Pasumpon Nagar's 2024 figure below this median.

• Mahatama Gandhi Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Mahaveer Street / Sathya Nagar: Rs 1,760 per sq.ft (2024)
• Mahimai Dasan Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Magimaidas Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalingam 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 amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while 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 stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalingam Street / Pasumpon Nagar?

The Sub Registrar Office that covers Mahalingam 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 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 applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are prepared for these additional costs when budgeting for a property purchase.

Frequently asked questions

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

The current guideline value of Mahalingam 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, marking an overall increase of 890% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, which is calculated based on the higher of the guideline value or the sale price.

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.

What are the other streets with guideline values in Pammal?

Other streets in Pammal include Mahatama Gandhi Street / Nagalkeni and Mahimai Dasan Street, both valued at Rs 1,980 per sq.ft, as well as Mahaveer Street / Sathya Nagar at Rs 1,760 per sq.ft, among others.