Guideline Value for PASUMPON MUTHURAMALINGA DEVAR ST (WARD -8)

Pasumpon Muthuramalinga Devar St (Ward -8) guideline value

The current guideline value of Pasumpon Muthuramalinga Devar St (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of Pasumpon Muthuramalinga Devar St (Ward -8) has changed

The guideline value for Pasumpon Muthuramalinga Devar St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. This was a decrease of 33%. The value then increased significantly to Rs 1,600 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a cumulative increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Pasumpon Muthuramalinga Devar St above this median.

• Pattinathadigal Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Pattukottai Alagiri Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Pattukottai Kalyana Sundaram Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Pavendar Salai (Ward -4): Rs 1,980 per sq.ft (2024)
• Parimezhagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Peialwar Street (Ward -5): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Muthuramalinga Devar St (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pasumpon Muthuramalinga Devar St (Ward -8)?

The Sub Registrar Office that covers Pasumpon Muthuramalinga Devar St (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Panangottur

When buying or selling property in Panangottur, the guideline value is crucial as it determines the stamp duty and registration fees payable during the transaction. Buyers must be aware that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Additionally, understanding the guideline value helps both buyers and sellers to ascertain the official value of the property, which can aid in negotiations and ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Pasumpon Muthuramalinga Devar St (Ward -8)?

The current guideline value of Pasumpon Muthuramalinga Devar St (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Pasumpon Muthuramalinga Devar St (Ward -8)?

Pasumpon Muthuramalinga Devar St (Ward -8) is classified as Residential Special Type - III.

What are the other streets in Panangottur and their guideline values?

Other streets in Panangottur include Pattinathadigal Street at Rs 1,320 per sq.ft, Pattukottai Alagiri Street at Rs 1,760 per sq.ft, and Pattukottai Kalyana Sundaram Salai at Rs 1,760 per sq.ft, among others.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.