Guideline Value for Pasumpon Nagar Patel Street

Pasumpon Nagar Patel Street guideline value

The current guideline value of Pasumpon Nagar Patel Street is Rs 3,300 per sq.ft. 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 Patel Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. Following this, the value saw a significant increase in the 2023 revision to Rs 3,000 per sq.ft, and then further increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,725 per sq.ft, placing Pasumpon Nagar Patel Street's 2024 figure above this median.

• Pasumpon Nagar Nedunchezhian Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Periyar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Marudhupandiar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Pudithevan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Radha Krishnan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar Patel 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pasumpon Nagar Patel Street?

The Sub Registrar Office that covers Pasumpon Nagar Patel 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 in determining the stamp duty and registration fees when buying or selling property in Perumbakkam. It serves as a benchmark for the value of the property and is used to calculate the applicable taxes during the registration process.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Pasumpon Nagar Patel 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 seen several changes: from Rs 3,000 in 2012 to Rs 2,010 in 2017, then back to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024.

What is the land classification of Pasumpon Nagar Patel Street?

Pasumpon Nagar Patel Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty rates for property in this area?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles registrations for Pasumpon Nagar Patel Street?

The Selaiyur Sub Registrar Office handles registrations for Pasumpon Nagar Patel Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.