Guideline Value for Pasupathy Nagar

Pasupathy Nagar guideline value

The current guideline value of Pasupathy Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Pasupathy Nagar has changed

Since the 2002 revision, the guideline value for Pasupathy Nagar has seen significant changes. In 2002, the value was Rs 68 per sq.ft, which increased to Rs 328 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,200 per sq.ft in 2012, which remained unchanged until 2023. The 2017 revision recorded a value of Rs 804 per sq.ft, marking a 49% increase from the previous revision. As of 2024, the guideline value remains Rs 1,200 per sq.ft, showing no change from 2023.

There is no figure for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1665%, reflecting the changes across various revisions. The value fluctuated significantly between revisions, with the most notable increase occurring between 2002 and 2007, where it rose by 382%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Pasupathy Nagar's 2024 figure below this median.

• Parasuraman Nagar: Rs 1,000 per sq.ft (2024)
• Parameswari Nagar: Rs 1,500 per sq.ft (2024)
• Pankajam ammal Nagar-(II): Rs 1,500 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,200 per sq.ft (2024)
• Padmavathi Nagar Extn. 1 & 2: Rs 1,500 per sq.ft (2024)
• Padmavathi Nagar 1 & 2: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pasupathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pasupathy Nagar?

The Sub Registrar Office that covers Pasupathy Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the guideline value helps in assessing the value of the property being transferred. Buyers and sellers must be aware of this value, as it directly impacts the costs associated with the transaction, including the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Pasupathy Nagar?

The current guideline value of Pasupathy Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 68 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with various fluctuations in between.

What is the median guideline value in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, while Pasupathy Nagar's current value is below this median.

What are the stamp duty and registration fees for properties in Pasupathy Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,08,000.

Where is the Sub Registrar Office for Pasupathy Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.