Guideline Value for Pasumanamalai Street

Pasumanamalai Street guideline value

The current guideline value of Pasumanamalai Street is Rs 1,200 per sq.ft, as per the 2023 revision. This street falls under Vandalur village and is classified as Residential Class I Type - I. The relevant Sub Registrar Office for this area is the Gooduvancheri SRO.

How the guideline value of Pasumanamalai Street has changed

The guideline value for Pasumanamalai Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 412 per sq.ft. This value increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a substantial rise of 191%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The most recent revision in 2023 has restored the guideline value back to Rs 1,200 per sq.ft, representing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the current 2023 revision, the guideline value has increased by 191%. It is important to note that there are no figures recorded for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Vandalur

Currently, there are no specific guideline values available for other streets in Vandalur under the Gooduvancheri SRO. Therefore, Pasumanamalai Street stands out with its established guideline value of Rs 1,200 per sq.ft.

Stamp duty and registration fee for property in Pasumanamalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasumanamalai Street?

The Sub Registrar Office that covers Pasumanamalai Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vandalur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pasumanamalai Street?

The current guideline value of Pasumanamalai Street is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 412 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What is the land classification for Pasumanamalai Street?

Pasumanamalai Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft incurs a total fee of Rs 1,08,000 for stamp duty and registration.