Guideline Value for Nagarathinam Street / Pasumpon Nagar

Nagarathinam Street / Pasumpon Nagar guideline value

The current guideline value for Nagarathinam Street / Pasumpon Nagar is Rs 2,475 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 I Type - II.

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

The guideline value for Nagarathinam 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, representing a 59% increase from the previous revision. By 2017, the guideline value reached Rs 1,507 per sq.ft, showing a substantial increase of 319% from 2007. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, reflecting a 64% increase from 2017. Notably, there are no figures available for the years 2012 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1,138%, showcasing a significant upward trend in the valuation of this property.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Nagarathinam Street / Pasumpon Nagar above this median.

• Nagarathinam Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Nagarathinam Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Nagarathinam Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Nagarathinam Street / Anna Salai: Rs 2,530 per sq.ft (2024)
• Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nagelkeni, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinam Street / Pasumpon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagarathinam Street / Pasumpon Nagar?

The Sub Registrar Office that covers Nagarathinam 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 is a critical factor in property transactions in Pammal, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transfer of property ownership. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for Nagarathinam Street / Pasumpon Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 2,475 per sq.ft in 2024, which is an overall increase of 1,138%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which means that Nagarathinam Street / Pasumpon Nagar's current value is above this median.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250 and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

Which office handles registrations for Nagarathinam Street / Pasumpon Nagar?

The Pammal Sub Registrar Office handles registrations for Nagarathinam Street / Pasumpon Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.