Guideline Value for Paumpon Nagar Rajiv Gandhi Street

Paumpon Nagar Rajiv Gandhi Street guideline value

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

How the guideline value of Paumpon Nagar Rajiv Gandhi Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then saw a significant increase in the 2023 revision to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. The overall change from the 2012 figure to 2024 shows a modest increase of 10%.

From 2017 to 2023, the guideline value increased by 49%. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street in the register.

Guideline values in Perumbakkam

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

• Paumpon Nagar Manickavasagar 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 Rajiv Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value is 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, totaling 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.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Paumpon Nagar Rajiv Gandhi Street?

The Sub Registrar Office covering Paumpon Nagar Rajiv Gandhi 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 factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Paumpon Nagar Rajiv Gandhi Street?

The current guideline value of Paumpon Nagar Rajiv Gandhi 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 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the classification of land in Paumpon Nagar Rajiv Gandhi Street?

Paumpon Nagar Rajiv Gandhi Street is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Paumpon Nagar Rajiv Gandhi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.