Guideline Value for Pammal Mahasuran Street/ Pasumpon Nagar

Pammal Mahasuran Street/ Pasumpon Nagar guideline value

The current guideline value for Pammal Mahasuran Street/ Pasumpon Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Pammal Mahasuran Street/ Pasumpon Nagar has changed

The guideline value for Pammal Mahasuran Street/ Pasumpon Nagar has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 59% increase from the previous revision. Following this, the 2017 revision set the value at Rs 2,010 per sq.ft, a substantial increase of 458% from 2007.

The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1550%. It should be noted that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Pammal Mahasuran Street/ Pasumpon Nagar above this median.

• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)
• Pammal Main Road: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Dr. Ambedhkar Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Nalathambi Salai: Rs 2,750 per sq.ft (2024)
• Pammal, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pammal Mahasuran Street/ Pasumpon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Pammal Mahasuran Street/ Pasumpon Nagar?

The Sub Registrar Office that covers Pammal Mahasuran Street/ Pasumpon Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pammal Mahasuran Street/ Pasumpon Nagar?

The current guideline value for Pammal Mahasuran Street/ Pasumpon Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 200 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1550%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a total fee of Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Pammal Mahasuran Street/ Pasumpon Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Pammal Mahasuran Street/ Pasumpon Nagar's current value being above this median.