Guideline Value for Pasumpon Muthuramalingam Street (Rajaji Colony)

Pasumpon Muthuramalingam Street (Rajaji Colony) guideline value

The current guideline value of Pasumpon Muthuramalingam Street (Rajaji Colony) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pasumpon Muthuramalingam Street (Rajaji Colony) has changed

The guideline value for Pasumpon Muthuramalingam Street has undergone several revisions over the years. In 2007, the value was Rs 1,107 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 307%. However, it saw a decrease to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 4,950 per sq.ft, an increase of 10% from the previous year.

It is important to note that the guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 347%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Pasumpon Muthuramalingam Street's 2024 figure above this median.

• Pasikara Street: Rs 3,300 per sq.ft (2024)
• Parthasarathy Street: Rs 4,950 per sq.ft (2024)
• Pari Street: Rs 3,300 per sq.ft (2024)
• Pandara Street: Rs 3,300 per sq.ft (2024)
• Panchayat Road: Rs 2,750 per sq.ft (2024)
• Perumal Koil North Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Muthuramalingam Street (Rajaji Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pasumpon Muthuramalingam Street (Rajaji Colony)?

The Sub Registrar Office that covers Pasumpon Muthuramalingam Street (Rajaji Colony) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with the local regulations.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that all transactions are recorded accurately and that the appropriate taxes are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Pasumpon Muthuramalingam Street?

The current guideline value of Pasumpon Muthuramalingam Street (Rajaji Colony) is Rs 4,950 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 1,107 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 347% over the years.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Pasumpon Muthuramalingam Street (Rajaji Colony), located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Pasumpon Muthuramalingam Street?

The land classification for Pasumpon Muthuramalingam Street (Rajaji Colony) is Residential Class I Type - I, indicating its suitability for residential development.