Guideline Value for Pasumpon Nagar ,3rd Street

Pasumpon Nagar ,3rd Street guideline value

The current guideline value of Pasumpon Nagar ,3rd Street is Rs 1,980 per sq.ft. This street is located in Pammal village, under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Pasumpon Nagar ,3rd Street has changed

The guideline value for Pasumpon Nagar ,3rd Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that the 2024 guideline value of Pasumpon Nagar ,3rd Street is below this median.

• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 6th Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar Extn.: Rs 1,980 per sq.ft (2024)
• Pasumbon Nagar Vallalar Street Links Nagalingam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar ,3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,78,200. It is important to note that 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 ,3rd Street?

The Sub Registrar Office that covers Pasumpon Nagar ,3rd Street 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 crucial factor during property registration in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold or purchased, the guideline value helps in assessing the official value of the property, which is vital for tax purposes. It is essential for both parties to understand the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar ,3rd Street?

The current guideline value of Pasumpon Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has risen from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Pasumpon Nagar ,3rd Street?

The land classification for Pasumpon Nagar ,3rd Street is Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the registration office for Pasumpon Nagar ,3rd Street?

The registration office for Pasumpon Nagar ,3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.