Guideline Value for Pasumpon Street

Pasumpon Street guideline value

The current guideline value of Pasumpon Street in Padiyanallur village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Pasumpon Street has changed

The guideline value for Pasumpon Street has seen several revisions over the years. In 2003, the value was Rs 74 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then doubled to Rs 600 per sq.ft in 2012, before decreasing to Rs 402 per sq.ft in 2017. Following that, the value rose to Rs 600 per sq.ft in 2023, and most recently, it has increased to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 792%. It is important to note that there is no figure available for Pasumpon Street in the 2002 revision.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that Pasumpon Street's 2024 figure is below this median.

• Peiyar Nagar Ist Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Panneer Selvam Street: Rs 770 per sq.ft (2024)
• Pannariamman Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Periyar Nagar 2nd Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Pandiyan Street (Bhavani Nagar): Rs 770 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasumpon Street?

The Sub Registrar Office that covers Pasumpon Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It serves as a baseline for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of this value. Buyers should be aware that the duty is applied to the higher of the guideline value or the sale price, ensuring that the fees reflect the property's worth.

Frequently asked questions

What is the current guideline value of Pasumpon Street?

The current guideline value of Pasumpon Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Pasumpon Street has changed from Rs 74 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 792% since 2003.

What is the median guideline value in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, which means Pasumpon Street's 2024 figure is below this median.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registration for Pasumpon Street?

The Redhills Sub Registrar Office handles registration for Pasumpon Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.