Guideline Value for Natarajan Street / Pasumpon Nagar

Natarajan Street / Pasumpon Nagar guideline value

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

The guideline value for Natarajan 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 rise of 13%. The value then saw a substantial increase to Rs 360 per sq.ft in 2007, representing a 59% change. By 2017, the value jumped to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase. The next revision in 2023 set the value at Rs 1,800 per sq.ft, an increase of 49% from the previous revision. The latest revision in 2024 has further raised the guideline value to Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street. 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 as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Natarajan Street / Pasumpon Nagar below this median.

• Natarajan Street (M) VOC Nagar: Rs 2,750 per sq.ft (2024)
• Natarajan Street (S.G.) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street Kalayam Nagar: Rs 1,980 per sq.ft (2024)
• Nataraj Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan 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, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Street / Pasumpon Nagar?

The Sub Registrar Office that covers Natarajan Street / Pasumpon Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within 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 during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is fairly documented.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Natarajan 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?

The guideline value has changed significantly from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890% over this period.

What other streets have guideline values in Pammal?

Other streets in Pammal also have varying guideline values. For example, Natarajan Street (M) VOC Nagar has a guideline value of Rs 2,750 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Natarajan Street / Pasumpon Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 19,80,000, the total fees would amount to Rs 1,78,200.