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

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

The current guideline value for PASUMPON DEVAR NAGAR 'JAWAHAR 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 'JAWAHAR STREET' (Kovil Land) has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,300 per sq.ft in the 2023 revision, followed by a rise to Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, 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 value for these streets is Rs 3,800 per sq.ft, which means that the guideline value for PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land) is below the median.

• PASUMPON DEVAR NAGAR 'GANDHI 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 'ANNA 2ND 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 'AMMAN KOIL STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• Pasumpon Muthuramalinga Thevar Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PASUMPON DEVAR NAGAR 'JAWAHAR 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, making the total cost for these fees Rs 2,25,000. 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 PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land)?

The Sub Registrar Office that covers PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land) is the Villivakkam Sub Registrar Office, 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 in property transactions in Padi. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is registered at a value that reflects the current market conditions as per the government's records.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting at Rs 2,300 per sq.ft in 2012, decreasing to Rs 1,541 per sq.ft in 2017, and then increasing to Rs 2,300 per sq.ft in 2023 and Rs 2,500 per sq.ft in 2024.

What is the land classification for this street?

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

Which office handles registrations for this area?

The Villivakkam Sub Registrar Office is responsible for handling registrations for PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land), 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 a rate of 7%.