Guideline Value for Nalathambi Street / Pasumpon Nagar

Nalathambi Street / Pasumpon Nagar guideline value

The current guideline value for Nalathambi Street / Pasumpon Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

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

The guideline value for Nalathambi Street / Pasumpon Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, a growth of 59%. By 2017, the guideline value reached Rs 1,675 per sq.ft, reflecting a substantial 365% increase from the 2007 figure.

With the latest revision in 2024, the guideline value has risen to Rs 2,750 per sq.ft, which is a 64% increase from the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,275%. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal village, 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 guideline value for these streets is Rs 2,090 per sq.ft, placing Nalathambi Street / Pasumpon Nagar above this median value.

• Naladurai School Street: Rs 1,760 per sq.ft (2024)
• Nalathambi Street / Sholavaram Nagar: Rs 2,750 per sq.ft (2024)
• Nalathambi Street / Thiru Nagar: Rs 2,750 per sq.ft (2024)
• Nallathambi Road, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nallathambi Road, Muthamiaz Nagar: Rs 2,750 per sq.ft (2024)
• Nallathambi Street, Nagelkeni: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nalathambi Street / Pasumpon Nagar?

The Sub Registrar Office that covers Nalathambi 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 serves as a benchmark for property transactions in Pammal. It is used to calculate the stamp duty and registration fees that are required when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is compared to the actual sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for Nalathambi Street / Pasumpon Nagar is Rs 2,750 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 significantly from Rs 200 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,275%.

What is the land classification for Nalathambi Street / Pasumpon Nagar?

The land classification for Nalathambi Street / Pasumpon Nagar is Commercial Class I 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 Nalathambi Street / Pasumpon Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.