Guideline Value for PASUMPON NAGAR EXTENSION 3,4,5 AVENUE 4TH MAIN ROAD

Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road guideline value

The current guideline value for Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road has changed

The guideline value for Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,100 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, the guideline value increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 5% increase. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road's 2024 figure below the median.

• Pasumpon Nagar Extension: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar /Streets/ Avenue: Rs 2,100 per sq.ft (2024)
• Pasumpon Nagar 1st Main Road: Rs 2,100 per sq.ft (2024)
• Pattammal Nagar: Rs 2,100 per sq.ft (2024)
• Pattaravakkam Service Road: Rs 2,900 per sq.ft (2024)
• Parthasarathi Avenue: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, while the registration fee at 2% would be Rs 42,000, resulting in a total of Rs 1,89,000. 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 for more details.

Which Sub Registrar Office covers Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road?

The Sub Registrar Office that covers Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road 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 further assistance.

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

When buying or selling property in Korattur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction adheres to the legal requirements set forth by the authorities.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The authorities will charge the stamp duty based on the higher of the two values, which is an important factor to consider during property transactions.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road?

The current guideline value of Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Pasumpon Nagar Extension, Pasumpon Nagar /Streets/ Avenue, Pasumpon Nagar 1st Main Road, Pattammal Nagar, Pattaravakkam Service Road, and Parthasarathi Avenue, all with guideline values of Rs 2,100 per sq.ft, except for Pattaravakkam Service Road, which is Rs 2,900 per sq.ft in 2024.

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 is the stamp duty calculated for properties in Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road?

Stamp duty for properties in Pasumpon Nagar Extension 3,4,5 Avenue 4th Main Road is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 21,00,000 incurs a stamp duty of Rs 1,47,000 at a rate of 7%.