Guideline Value for Pasumpon Nagar Rajiv Gandhi Street

Pasumpon Nagar Rajiv Gandhi Street guideline value

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

How the guideline value of Pasumpon Nagar Rajiv Gandhi Street has changed

The guideline value for Pasumpon Nagar Rajiv Gandhi Street has undergone 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. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally to Rs 3,300 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

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, indicating that Pasumpon Nagar Rajiv Gandhi Street's 2024 figure is above this median.

• Pasumpon Nagar Radha Krishnan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar V.O.C. Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Pudithevan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Periyar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Patel 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 Rajiv 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 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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Pasumpon Nagar Rajiv Gandhi Street?

The Sub Registrar Office that covers Pasumpon Nagar Rajiv 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 an essential factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Pasumpon Nagar Rajiv 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 increased 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 Rajiv Gandhi Street?

Pasumpon Nagar Rajiv Gandhi Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty rates applicable?

The stamp duty for property transactions in Pasumpon Nagar Rajiv Gandhi Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

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