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

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

The current guideline value for PASUMPON DEVAR NAGAR 'GANDHI 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 is classified as Residential Class V Type - I.

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

The guideline value for PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land) has seen several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,300 per sq.ft. The most recent revision in 2024 saw a further increase of 9%, resulting in the current guideline value of Rs 2,500 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that the 2024 value for PASUMPON DEVAR NAGAR 'GANDHI STREET' is below this median.

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

Stamp duty and registration fee for property in PASUMPON DEVAR NAGAR 'GANDHI 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 amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land) is the Villivakkam Sub Registrar Office. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of properties in Padi. It serves as a basis for calculating the stamp duty and registration fees that are required to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land)?

The current guideline value for PASUMPON DEVAR NAGAR 'GANDHI 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 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land)?

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

Where can I find the registration office for this area?

The registration office for PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land) 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 Padi?

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