Guideline Value for Prabhudas Street / Pasumpon Nagar

Prabhudas Street / Pasumpon Nagar guideline value

The current guideline value for Prabhudas Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under Pammal village, governed by the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Prabhudas Street / Pasumpon Nagar has changed

The guideline value for Prabhudas Street / Pasumpon Nagar has undergone several revisions since 2002. The 2002 revision set the value at Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 360 per sq.ft, reflecting a 59% change from the previous revision. However, there are no figures available for the years 2012, 2017, and 2023.

In the most recent revision in 2024, the guideline value rose significantly to Rs 1,980 per sq.ft, which represents a 450% increase from the 2007 figure. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 890%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Prabhudas Street / Pasumpon Nagar below this median.

• Prabhu Street: Rs 1,760 per sq.ft (2024)
• Prabhakaran Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Pragalathan Street, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Pragalathan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Pozhichallur Main Road, Pasumpon Nagar: Rs 2,750 per sq.ft (2024)
• Prashanthi Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhudas Street / Pasumpon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, calculated at 7%, would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. 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 Prabhudas Street / Pasumpon Nagar?

The Prabhudas Street / Pasumpon Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role during property registration in Pammal. It serves as a benchmark for determining the minimum value at which a property 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 is essential for calculating the applicable fees. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any legal complications during the transaction.

Frequently asked questions

What is the current guideline value for Prabhudas Street / Pasumpon Nagar?

The current guideline value for Prabhudas Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890%.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000, with a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Prabhudas Street / Pasumpon Nagar?

The Pammal Sub Registrar Office handles registrations for Prabhudas Street / Pasumpon Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with different guideline values in Pammal?

Yes, there are other streets in Pammal with varying guideline values, ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft.