Guideline Value for PASUMARTHI STREET

Pasumarthi Street guideline value

The current guideline value of Pasumarthi Street in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Pasumarthi Street has changed

The guideline value for Pasumarthi Street has seen several revisions over the years. In 2002, the value was Rs 1,423 per sq.ft, which increased to Rs 1,563 per sq.ft in 2003, marking a 10% rise. The value then rose by 15% to Rs 1,800 per sq.ft in 2007, and significantly increased by 261% to Rs 6,500 per sq.ft in 2012. The value remained unchanged at Rs 6,500 per sq.ft in 2023. The latest revision in 2024 saw another increase of 9%, bringing the current guideline value to Rs 7,100 per sq.ft.

It is important to note that there is no figure available for Pasumarthi Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 399%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, indicating that Pasumarthi Street's 2024 value is above this median.

• Pasumarthi Lane: Rs 5,800 per sq.ft (2024)
• Patel Street: Rs 7,100 per sq.ft (2024)
• Park View Road: Rs 8,200 per sq.ft (2024)
• Pari Street: Rs 5,000 per sq.ft (2024)
• Parangusapuram Street: Rs 7,100 per sq.ft (2024)
• Parameswari Colony: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumarthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 details.

Which Sub Registrar Office covers Pasumarthi Street?

The Sub Registrar Office that covers Pasumarthi Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pasumarthi Street?

The current guideline value of Pasumarthi Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,423 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 399% over this period.

What is the land classification for Pasumarthi Street?

Pasumarthi Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for property in Pasumarthi Street?

For a property valued at Rs 71,00,000, the stamp duty is Rs 4,97,000 and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

Which office should I visit for property registration in Puliyur?

The Kodambakkam Sub Registrar Office is responsible for property registration in Puliyur. It is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.