Guideline Value for Pasumpon Nagar Periyar Street

Pasumpon Nagar Periyar Street guideline value

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

The guideline value for Pasumpon Nagar Periyar Street has undergone several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

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

• Pasumpon Nagar Patel Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Pudithevan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Nedunchezhian Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Radha Krishnan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Marudhupandiar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar Periyar 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, and the registration fee at 2% would be Rs 66,000, leading to a total of 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 more details.

Which Sub Registrar Office covers Pasumpon Nagar Periyar Street?

The Sub Registrar Office that covers Pasumpon Nagar Periyar 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 the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of Pasumpon Nagar Periyar 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 decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023.

What is the land classification for Pasumpon Nagar Periyar Street?

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

What are the stamp duty rates applicable?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Pasumpon Nagar Periyar Street?

The Sub Registrar Office for Pasumpon Nagar Periyar Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details by visiting the relevant link.