Guideline Value for Pasumpon Nagar,Cross Street

Pasumpon Nagar,Cross Street guideline value

The current guideline value for Pasumpon Nagar,Cross 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 is classified as Residential Class II Type - II.

How the guideline value of Pasumpon Nagar,Cross Street has changed

Over the years, the guideline value for Pasumpon Nagar,Cross Street has seen significant revisions. The register shows that in 2017, the guideline value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, 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 this street in the register.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which means that the guideline value for Pasumpon Nagar,Cross Street is below the median.

• Pasumpon Nagar Extn.,: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar Last cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar ,6th Cross Street,: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 1st Street,: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be 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 for these 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.

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

Which Sub Registrar Office covers Pasumpon Nagar,Cross Street?

The Sub Registrar Office that covers Pasumpon Nagar,Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the 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 crucial factor when buying or selling property in Pammal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer approaches the registration office, the guideline value aids in establishing a fair base for the transaction. It is essential for both buyers and sellers to be aware of this value, as it can impact the overall cost of the property transfer process.

Frequently asked questions

What is the current guideline value for Pasumpon Nagar,Cross Street?

The current guideline value for Pasumpon Nagar,Cross 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 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What is the stamp duty for property in Pasumpon Nagar,Cross Street?

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

What is the registration fee for property transactions in this area?

The registration fee for property transactions in Pasumpon Nagar,Cross Street is 2% of the guideline value or the sale price, whichever is higher. For the same plot, the registration fee would be Rs 39,600.

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

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