Guideline Value for PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land)

PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land) guideline value

The current guideline value of PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land) has changed

The guideline value for PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value of PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' is below this median.

• PASUMPON DEVAR NAGAR 'AMMAN KOIL STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'ANNA 1ST STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'ANNA 2ND STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'V.O.C.STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost for these fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land)?

The Sub Registrar Office that covers PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are standardized based on the official valuation of the property.

When a buyer or seller engages in a property transaction, the guideline value must be considered to determine the applicable fees. This ensures transparency and consistency in the property registration process.

Frequently asked questions

What is the current guideline value of PASUMPON DEVAR NAGAR 'AMBEDKAR STREET'?

The current guideline value of PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, reflecting a 9% increase. It was Rs 1,541 per sq.ft in 2017, which shows a significant increase of 49% to 2023.

What is the land classification of this street?

PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' (Kovil Land) is classified as Residential Class V Type - I.

Where can I find the registration office for this street?

The registration office for PASUMPON DEVAR NAGAR 'AMBEDKAR STREET' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.