Guideline Value for Paumpon Nagar Manickavasagar Street

Paumpon Nagar Manickavasagar Street guideline value

The current guideline value for Paumpon Nagar Manickavasagar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Paumpon Nagar Manickavasagar Street has changed

The guideline value for Paumpon Nagar Manickavasagar Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. The most significant change occurred between 2017 and 2023, with a 49% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 2,725 per sq.ft, placing Paumpon Nagar Manickavasagar Street above this median.

• Paumpon Nagar Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar V.O.C. Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Radha Krishnan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Pudithevan Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar Periyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Paumpon Nagar Manickavasagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Paumpon Nagar Manickavasagar Street?

The Sub Registrar Office that covers Paumpon Nagar Manickavasagar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Perumbakkam. It is used to determine the stamp duty and registration fees that are applicable during the transaction, ensuring that the government receives the appropriate revenue based on the property's value.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Paumpon Nagar Manickavasagar Street?

The current guideline value for Paumpon Nagar Manickavasagar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a significant increase of 49% to the 2023 figure.

What is the land classification of Paumpon Nagar Manickavasagar Street?

Paumpon Nagar Manickavasagar Street is classified as Residential Special Type - II. This classification affects the guideline value and the types of properties that can be developed in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 2,31,000.