Guideline Value for Pasumpon Nagar Gandhi Street

Pasumpon Nagar Gandhi Street guideline value

The current guideline value of Pasumpon Nagar Gandhi 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 Gandhi Street has changed

The guideline value for Pasumpon Nagar Gandhi Street has seen several revisions over the years. 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. However, in 2023, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The most significant change occurred between 2017 and 2023, where the guideline value jumped by 49%. The increase from 2023 to 2024 is 10%.

Guideline values in Perumbakkam

In Perumbakkam, 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. The median value for these streets is Rs 2,725 per sq.ft, making the 2024 guideline value of Pasumpon Nagar Gandhi Street above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees together 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pasumpon Nagar Gandhi Street?

The Sub Registrar Office that covers Pasumpon Nagar Gandhi 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is advisable for buyers to be aware of the guideline value to ensure they are not overpaying for a property based on its registered value.

Frequently asked questions

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

The current guideline value of Pasumpon Nagar Gandhi 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 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Pasumpon Nagar Gandhi Street?

Pasumpon Nagar Gandhi Street is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

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

What is the median guideline value for streets in Perumbakkam?

The median guideline value for the 225 streets in Perumbakkam under the Selaiyur SRO is Rs 2,725 per sq.ft, with Pasumpon Nagar Gandhi Street's value being above this median.