Guideline Value for Pasumpon Nagar

Pasumpon Nagar guideline value

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

How the guideline value of Pasumpon Nagar has changed

The guideline value for Pasumpon Nagar has seen 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, and in the latest 2024 revision, it rose to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are a total of 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Pasumpon Nagar's 2024 figure above this median.

• Pasumpon Nagar Ambedhkar Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Annai Indira Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Marudhupandiar 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

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 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.

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

Which Sub Registrar Office covers Pasumpon Nagar?

The Sub Registrar Office that covers Pasumpon Nagar 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 reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation that could lead to revenue loss for the state. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar?

The current guideline value of Pasumpon Nagar 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012.

What is the land classification of Pasumpon Nagar?

Pasumpon Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Pasumpon Nagar?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where is the Selaiyur Sub Registrar Office located?

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