Guideline Value for PASUMBON NAGAR VALLALAR STREET LINKS NAGALINGAM STREET

Pasumbon Nagar Vallalar Street Links Nagalingam Street guideline value

The current guideline value of Pasumbon Nagar Vallalar Street Links Nagalingam Street 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 street is Commercial Class I Type - II.

How the guideline value of Pasumbon Nagar Vallalar Street Links Nagalingam Street has changed

The guideline value for Pasumbon Nagar Vallalar Street Links Nagalingam Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal, there are 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 in this area is Rs 2,090 per sq.ft, indicating that Pasumbon Nagar Vallalar Street Links Nagalingam Street's current value is above the median.

• Pasumpon Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Parvathi Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 3rd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 6th Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumbon Nagar Vallalar Street Links Nagalingam Street

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

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pasumbon Nagar Vallalar Street Links Nagalingam Street?

The Sub Registrar Office that covers Pasumbon Nagar Vallalar Street Links Nagalingam Street 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure they are compliant with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pasumbon Nagar Vallalar Street Links Nagalingam Street?

The current guideline value of Pasumbon Nagar Vallalar Street Links Nagalingam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and now to Rs 2,750 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

What are the guideline values for other streets in Pammal?

Other streets in Pammal have varying guideline values, with rates ranging from Rs 880 to Rs 3,300 per sq.ft. The median value in Pammal is Rs 2,090 per sq.ft.

What fees are associated with buying property in Pasumbon Nagar Vallalar Street Links Nagalingam Street?

When buying property, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 2,47,500.

Where is the Sub Registrar Office for Pasumbon Nagar Vallalar Street Links Nagalingam Street located?

The Sub Registrar Office for this street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.