Guideline Value for Ninaan Street / Pasumpon Nagar

Ninaan Street / Pasumpon Nagar guideline value

The current guideline value of Ninaan Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

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

The guideline value for Ninaan Street / Pasumpon Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 204 per sq.ft, which increased to Rs 231 per sq.ft in 2003, marking a change of +13%. The value further rose to Rs 360 per sq.ft in 2007, a substantial increase of +56%. By 2017, the value reached Rs 1,206 per sq.ft, reflecting a remarkable growth of +235% from the previous revision.

In 2023, the guideline value was recorded at Rs 1,800 per sq.ft, which was a +49% increase from 2017. The most recent revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, representing a +10% increase from the previous year. It is important to note that there is no figure available for this street in the 2012 revision.

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, with a median value of Rs 2,090 per sq.ft. Ninaan Street / Pasumpon Nagar's 2024 figure is below this median.

• NK Raji Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• NSK 1st Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• N.S.K. Street (Anna Salai): Rs 2,475 per sq.ft (2024)
• NSK Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• N.S.K Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• N.S.K. Street (Mungli Ari): Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Ninaan 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, and the registration fee at 2% would be Rs 39,600, making the total fees Rs 1,78,200. 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 accurate calculations based on your specific property transaction.

Which Sub Registrar Office covers Ninaan Street / Pasumpon Nagar?

The Sub Registrar Office that covers Ninaan 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 information.

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 value at which a property can be registered. When buyers and sellers agree on a sale price, the registration office will use the higher of the guideline value or the sale price to calculate the applicable stamp duty and registration fees.

This ensures that the government receives the appropriate revenue from property transactions while providing a standardized method for valuing properties in the area. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of Ninaan 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 204 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of +871% over the years.

What is the registration office for Ninaan Street / Pasumpon Nagar?

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

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal with a guideline value of Rs 1,980 per sq.ft include NK Raji Street, Nagelkeni, NSK 1st Street, Dr.Ambedhar Nagar, and NSK Street, Dr. Ambedhkar Nagar.