Guideline Value for Pasupathi Street

Pasupathi Street guideline value

The current guideline value of Pasupathi Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pasupathi Street has changed

The guideline value for Pasupathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. The 2023 revision increased it to Rs 2,800 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 11%, reflecting the current guideline value of Rs 3,100 per sq.ft.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is equal to the guideline value of Pasupathi Street.

• Park Thukar (Mount Poonamallee High): Rs 3,850 per sq.ft (2024)
• Park Dugar: Rs 3,850 per sq.ft (2024)
• Periyar Road: Rs 6,600 per sq.ft (2024)
• Palani Naicker Street: Rs 1,950 per sq.ft (2024)
• Palaiyakara Street: Rs 1,950 per sq.ft (2024)
• Padmavathi Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Pasupathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost for these fees to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pasupathi Street?

The Sub Registrar Office that covers Pasupathi Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. It is essential for both parties in a transaction to understand how the guideline value impacts their financial obligations and the overall process of property registration.

Frequently asked questions

What is the current guideline value of Pasupathi Street?

The current guideline value of Pasupathi Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification of Pasupathi Street?

Pasupathi Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Pasupathi Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Pasupathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 at a rate of 7%.