Guideline Value for Pasumpon Nagar, 1st Street,

Pasumpon Nagar, 1st Street, guideline value

The current guideline value of Pasumpon Nagar, 1st Street, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Pasumpon Nagar, 1st Street, has changed

In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, reflecting a change of +49%. The most recent 2024 revision set the value at Rs 1,980 per sq.ft, marking a +10% increase from the previous year. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%. The consistent rise in the guideline value indicates changes in the property landscape in this area.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Pasumpon Nagar, 1st Street, below this median.

• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 3rd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 6th Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumbon Nagar Vallalar Street Links Nagalingam Street: Rs 2,750 per sq.ft (2024)
• Pasumpon Nagar, Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar Extn.: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Nagar, 1st Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasumpon Nagar, 1st Street,?

The Sub Registrar Office covering Pasumpon Nagar, 1st Street, is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a critical factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented according to the prevailing regulations. Buyers and sellers should be aware of these values to ensure compliance during the registration process.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar, 1st Street?

The current guideline value of Pasumpon Nagar, 1st Street, is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of +64%.

What is the median guideline value in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which is higher than the guideline value of Pasumpon Nagar, 1st Street.

What are the stamp duty rates for properties in Pasumpon Nagar, 1st Street?

The stamp duty for properties in Pasumpon Nagar, 1st Street, is charged at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600.

Where can I find the Sub Registrar Office for Pasumpon Nagar, 1st Street?

The Sub Registrar Office for Pasumpon Nagar, 1st Street, is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the appropriate link.