Guideline Value for PASUMAI NAGAR

Pasumai Nagar guideline value

The current guideline value of Pasumai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Oothivakkam village under the Thiruporur SRO, classified as Residential Class I Type - I.

How the guideline value of Pasumai Nagar has changed

The guideline value for Pasumai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2024 revision. In contrast, the 2017 revision recorded a lower value of Rs 167 per sq.ft, marking a decrease of 33% from the previous revision. The 2023 revision then brought the value back to Rs 250 per sq.ft, and the 2024 revision has maintained this figure, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 250 per sq.ft, despite fluctuations in earlier revisions.

Guideline values in Oothivakkam

In Oothivakkam, there are 20 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,792 per sq.ft. The median value of these streets is Rs 825 per sq.ft, placing Pasumai Nagar's 2024 figure below this median.

• Pristine Hill Breese Avenue Phase I: Rs 500 per sq.ft (2024)
• Sai Baba Garden: Rs 250 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,493 per sq.ft (2024)
• ShreeRaksha Garden: Rs 1,350 per sq.ft (2024)
• Sri Sathya Sai Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension -III: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, resulting in Rs 17,500, while the registration fee at 2% amounts to Rs 5,000. Therefore, the total cost for stamp duty and registration would be Rs 22,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Pasumai Nagar?

The Sub Registrar Office that covers Pasumai Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Oothivakkam

The guideline value is a critical factor during property transactions in Oothivakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When purchasing property, the guideline value serves as a benchmark for both parties to agree upon the sale price. It is essential for buyers to be aware of the guideline value to ensure that they are not overpaying for the property.

Frequently asked questions

What is the current guideline value of Pasumai Nagar?

The current guideline value of Pasumai Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the 2012 revision set at Rs 250 per sq.ft, dropping to Rs 167 per sq.ft in 2017, and then returning to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Pasumai Nagar?

Pasumai Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Pasumai Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles registrations for Pasumai Nagar?

The Thiruporur Sub Registrar Office handles registrations for Pasumai Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.