Guideline Value for Pasumpon Nagar V.O.C. Street

Pasumpon Nagar V.O.C. Street guideline value

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

How the guideline value of Pasumpon Nagar V.O.C. Street has changed

The guideline value for Pasumpon Nagar V.O.C. 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. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Pasumpon Nagar V.O.C. Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 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 guideline value for these streets is Rs 2,725 per sq.ft, placing Pasumpon Nagar V.O.C. Street above this median.

• Pasumpon Nagar Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Radha Krishnan 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 V.O.C. 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 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pasumpon Nagar V.O.C. Street?

The Sub Registrar Office that covers Pasumpon Nagar V.O.C. 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 value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar V.O.C. Street?

The current guideline value of Pasumpon Nagar V.O.C. 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, reflecting a 10% increase. The value was Rs 2,010 per sq.ft in 2017, which was a 49% increase from Rs 3,000 per sq.ft in 2012.

What is the land classification of Pasumpon Nagar V.O.C. Street?

Pasumpon Nagar V.O.C. Street is classified as Residential Special Type - II.

What is the address of the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Pasumpon Nagar V.O.C. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.