Guideline Value for Pasupathi Lane

Pasupathi Lane guideline value

The current guideline value of Pasupathi Lane is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Pasupathi Lane has changed

The guideline value for Pasupathi Lane has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was followed by a decrease to Rs 3,015 per sq.ft in the 2017 revision. The value then increased significantly to Rs 4,500 per sq.ft in the 2023 revision, and further rose to Rs 4,950 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Pasupathi Lane's 2024 figure above this median.

• Patmavathi Nagar Extn 3rd Street: Rs 3,850 per sq.ft (2024)
• Pattukottai Muthukumaraswamy Salai: Rs 3,850 per sq.ft (2024)
• Pazhaniyappa Street: Rs 3,850 per sq.ft (2024)
• Pazhaniyappa Street in MGR Nagar: Rs 3,850 per sq.ft (2024)
• Park Avenue 3rd Street, Murugan Syndigate: Rs 4,400 per sq.ft (2024)
• Park Avenue 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pasupathi Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Pasupathi Lane?

The Sub Registrar Office that covers Pasupathi Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal worth of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to price their properties competitively within the market.

Frequently asked questions

What is the current guideline value of Pasupathi Lane?

The current guideline value of Pasupathi Lane is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

From 2012 to 2017, the guideline value decreased from Rs 4,500 to Rs 3,015 per sq.ft. It then increased to Rs 4,500 in 2023 and is now Rs 4,950 in 2024.

What is the land classification for Pasupathi Lane?

Pasupathi Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Pasupathi Lane?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Pasupathi Lane located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.