Guideline Value for Pumpset Street

Pumpset Street guideline value

The current guideline value of Pumpset Street in Sundaracholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Pumpset Street has changed

The guideline value for Pumpset Street has undergone several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 500 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 214%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, indicating that Pumpset Street's current value is below the median.

• Pumproom street Left&Right: Rs 660 per sq.ft (2024)
• Prakalya Nagar: Rs 1,065 per sq.ft (2024)
• Ram Nagar: Rs 660 per sq.ft (2024)
• Ondi Kudisai Street: Rs 660 per sq.ft (2024)
• Sakthi Nagar: Rs 660 per sq.ft (2024)
• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Pumpset Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that 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 more details.

Which Sub Registrar Office covers Pumpset Street?

Pumpset Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with the legal requirements.

Frequently asked questions

What is the current guideline value of Pumpset Street?

The current guideline value of Pumpset Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 214% over this period.

What is the median guideline value for streets in Sundaracholavaram?

The median guideline value for streets in Sundaracholavaram is Rs 660 per sq.ft, which is higher than the current value of Pumpset Street.

What fees are associated with buying property in Pumpset Street?

When buying property in Pumpset Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

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

The Kunrathur Sub Registrar Office, which covers Pumpset Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.