Guideline Value for Pasumpon Nagar

Pasumpon Nagar guideline value

The current guideline value of Pasumpon Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO and is classified as Residential Class II Type - I.

How the guideline value of Pasumpon Nagar has changed

The guideline value for Pasumpon Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017, before rising significantly to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in the 2024 revision.

Between these revisions, notable changes include a 150% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then surged by 49% from 2017 to 2023 and increased by 8% from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, a total of 879 streets under the Sembiam SRO have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Pasumpon Nagar is below this median.

• Parvathy Amman Nagar: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)
• Periyar Nagar Avenue: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Pasumpon Nagar?

Pasumpon Nagar falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are based on an official valuation rather than the sale price alone.

When engaging in a property transaction, it is essential to be aware of the guideline value as it impacts the overall cost of registration. Buyers and sellers should ensure they are informed about the current values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pasumpon Nagar?

The current guideline value of Pasumpon Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting various increases and decreases across different revisions.

What is the land classification for Pasumpon Nagar?

Pasumpon Nagar is classified as Residential Class II Type - I, indicating its suitability for residential developments.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Pasumpon Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.