Guideline Value for Pasumpon Salai (Venkateswara Nagar)

Pasumpon Salai (Venkateswara Nagar) guideline value

The current guideline value of Pasumpon Salai (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pasumpon Salai (Venkateswara Nagar) has changed

The guideline value for Pasumpon Salai (Venkateswara Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has been revised to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase.

Overall, from 2007 to 2024, the guideline value has increased by 220%. The revisions from 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Pasumpon Salai (Venkateswara Nagar) is below this median.

• Pasumpon Salai Gandhi Nagar: Rs 1,600 per sq.ft (2024)
• Pasumpon Street: Rs 1,600 per sq.ft (2024)
• Patel Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Patel Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Pattinathar Street: Rs 1,600 per sq.ft (2024)
• Park Street (Lakshmiamman Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumpon Salai (Venkateswara Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. 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 Salai (Venkateswara Nagar)?

The Sub Registrar Office that covers Pasumpon Salai (Venkateswara Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate these fees, ensuring that they are based on the official valuation rather than the negotiated sale price. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Pasumpon Salai (Venkateswara Nagar)?

The current guideline value for Pasumpon Salai (Venkateswara Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs total charges of Rs 1,44,000.

Which office handles registrations for Pasumpon Salai (Venkateswara Nagar)?

The Ambattur Sub Registrar Office is responsible for registrations in Pasumpon Salai (Venkateswara Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification for Pasumpon Salai (Venkateswara Nagar)?

Pasumpon Salai (Venkateswara Nagar) is classified as Residential Class II Type - I, indicating its suitability for residential development.