Guideline Value for Pasumpon Street

Pasumpon Street guideline value

The current guideline value of Pasumpon Street in Oragadam village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Pasumpon Street has changed

The guideline value for Pasumpon Street has seen significant changes over the years. In 2002, the value was Rs 161 per sq.ft, which increased to Rs 174 per sq.ft in 2003. There is no figure available for the year 2007. The value then rose to Rs 1,500 per sq.ft in 2012, but saw a decline to Rs 1,005 per sq.ft in 2017. Following this, the value increased sharply to Rs 1,500 per sq.ft in 2023 and further to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2003 to 2012 was a remarkable 762%. Overall, from 2002 to 2024, the guideline value has increased by 894%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry 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. Pasumpon Street's 2024 value is below this median.

• Pasumpon Salai (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pasumpon Salai Gandhi Nagar: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to 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, bringing the total to 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 detailed calculations.

Which Sub Registrar Office covers Pasumpon Street?

The Sub Registrar Office that covers Pasumpon Street 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 plays a crucial role during the registration of property transactions in Oragadam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented accurately and legally.

Frequently asked questions

What is the current guideline value of Pasumpon Street?

The current guideline value of Pasumpon Street 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 significantly, increasing from Rs 161 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 894%.

What is the land classification of Pasumpon Street?

Pasumpon Street is classified under Residential Class II Type - I.

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

The Sub Registrar Office for Pasumpon Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,600 per sq.ft incurs a stamp duty of Rs 1,12,000.