Guideline Value for Pasumpon Nagar, 2nd Street

Pasumpon Nagar, 2nd Street guideline value

The current guideline value of Pasumpon Nagar, 2nd 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of Pasumpon Nagar, 2nd Street has changed

In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This figure increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Pasumpon Nagar, 2nd Street.

Guideline values in Pammal

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

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

Stamp duty and registration fee for property in Pasumpon Nagar, 2nd 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 fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasumpon Nagar, 2nd Street?

The Sub Registrar Office that covers Pasumpon Nagar, 2nd 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable stamp duty. This ensures that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar, 2nd Street?

The current guideline value of Pasumpon Nagar, 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which indicates that Pasumpon Nagar, 2nd Street's guideline value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.