Guideline Value for PASUMPON MUTHURAMALINGA THEVAR NAGAR

Pasumpon Muthuramalinga Thevar Nagar guideline value

The current guideline value of Pasumpon Muthuramalinga Thevar Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Padi village and falls under the Villivakkam SRO. The land classification for this locality is Residential Class V Type - I.

How the guideline value of Pasumpon Muthuramalinga Thevar Nagar has changed

Over the years, the guideline value for Pasumpon Muthuramalinga Thevar Nagar has seen significant changes. In 2003, the guideline value was Rs 470 per sq.ft. This figure increased to Rs 850 per sq.ft in 2007, marking an increase of 81%. The value then rose dramatically to Rs 2,300 per sq.ft in 2012, a change of 171%. However, it decreased to Rs 1,541 per sq.ft in 2017, reflecting a decline of 33%. In 2023, the guideline value was Rs 2,300 per sq.ft, which then saw an increase of 9% to reach the current value of Rs 2,500 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 432%.

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, placing Pasumpon Muthuramalinga Thevar Nagar's current value below this median.

• PASUMPON DEVAR NAGAR 'V.O.C.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 'GANDHI 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)

Stamp duty and registration fee for property in Pasumpon Muthuramalinga Thevar Nagar

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, bringing the total cost for these fees to 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.

You can use the stamp duty and registration fee calculator to estimate your fees based on the property value.

Which Sub Registrar Office covers Pasumpon Muthuramalinga Thevar Nagar?

The Sub Registrar Office that covers Pasumpon Muthuramalinga Thevar Nagar 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Padi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. The fees are calculated based on the higher value between the guideline value and the sale price of the property.

When you register a property in Padi, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Pasumpon Muthuramalinga Thevar Nagar?

The current guideline value of Pasumpon Muthuramalinga Thevar Nagar 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 significantly from Rs 470 per sq.ft in 2003 to Rs 2,500 per sq.ft in 2024, representing an overall increase of 432%.

What is the land classification for Pasumpon Muthuramalinga Thevar Nagar?

The land classification for Pasumpon Muthuramalinga Thevar Nagar is Residential Class V Type - I.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,00,000, the total fees would amount to Rs 2,25,000.