Guideline Value for Pasumpon Nagar ,6th Cross Street,

Pasumpon Nagar ,6th Cross Street, guideline value

The current guideline value of Pasumpon Nagar ,6th Cross Street, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Pasumpon Nagar ,6th Cross Street, has changed

The guideline value for Pasumpon Nagar ,6th Cross Street, has undergone several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 saw an increase to Rs 1,980 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal village, 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, which means that the guideline value of Pasumpon Nagar ,6th Cross Street, is below this median.

• Pasumpon Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 2nd 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)
• Pasumpon Nagar Last cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar ,6th Cross 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, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. 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 further calculations.

Which Sub Registrar Office covers Pasumpon Nagar ,6th Cross Street,?

The Sub Registrar Office that covers Pasumpon Nagar ,6th Cross 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 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 must be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Pasumpon Nagar ,6th Cross Street?

The current guideline value of Pasumpon Nagar ,6th Cross Street, is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What is the land classification of Pasumpon Nagar ,6th Cross Street?

Pasumpon Nagar ,6th Cross Street, is classified as Residential Class II Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for property in Pasumpon Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.