Guideline Value for Pasumpon Nagar Ambedhkar Street

Pasumpon Nagar Ambedhkar Street guideline value

The current guideline value of Pasumpon Nagar Ambedhkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Pasumpon Nagar Ambedhkar Street has changed

Over the years, the guideline value of Pasumpon Nagar Ambedhkar Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision further raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value of Pasumpon Nagar Ambedhkar Street is above this median.

• Pasumpon Nagar Annai Indira Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Marudhupandiar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Nedunchezhian Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar Ambedhkar Street

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 fees 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 further calculations.

Which Sub Registrar Office covers Pasumpon Nagar Ambedhkar Street?

The Sub Registrar Office that covers Pasumpon Nagar Ambedhkar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Perumbakkam. It determines the minimum value at which a property can be registered and is used to calculate applicable stamp duties and registration fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar Ambedhkar Street?

The current guideline value of Pasumpon Nagar Ambedhkar Street 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing an overall increase of 10% from the 2012 figure of Rs 3,000 per sq.ft.

What is the land classification of Pasumpon Nagar Ambedhkar Street?

Pasumpon Nagar Ambedhkar Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Pasumpon Nagar Ambedhkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.