Guideline Value for Pasumpon Nagar Main Road

Pasumpon Nagar Main Road guideline value

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

How the guideline value of Pasumpon Nagar Main Road has changed

The guideline value for Pasumpon Nagar Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,000 per sq.ft. This figure was then reduced to Rs 2,010 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 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 among these streets is Rs 2,725 per sq.ft, placing Pasumpon Nagar Main Road's 2024 figure above that median.

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

Stamp duty and registration fee for property in Pasumpon Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these 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.

To calculate your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasumpon Nagar Main Road?

The Sub Registrar Office covering Pasumpon Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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 when registering property transactions in Perumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar Main Road?

The current guideline value of Pasumpon Nagar Main Road 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, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a significant rise from the previous value of Rs 3,000 per sq.ft in 2012.

What is the land classification for Pasumpon Nagar Main Road?

Pasumpon Nagar Main Road is classified as Residential Special Type - II, which influences its guideline value and usage.

Where can I find the Sub Registrar Office for Pasumpon Nagar Main Road?

The Sub Registrar Office for Pasumpon Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How do stamp duty and registration fees work in property transactions?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. These fees are essential for the legal registration of property transactions and must be paid at the time of registration.