Guideline Value for Subramani Street (R.V.) / Pasumpon Nagar

Subramani Street (R.V.) / Pasumpon Nagar guideline value

The current guideline value of Subramani Street (R.V.) / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Subramani Street (R.V.) / Pasumpon Nagar has changed

The guideline value for Subramani Street (R.V.) / Pasumpon Nagar has seen significant changes over the years. Starting from Rs 200 per sq.ft in 2002, it increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a 59% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has brought the value to Rs 1,980 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Subramani Street (R.V.) / Pasumpon Nagar below this median.

• Subramani Lane: Rs 1,980 per sq.ft (2024)
• Subramaniam Street: Rs 1,980 per sq.ft (2024)
• St. Thomas Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• State Bank Colony (All Streets): Rs 2,750 per sq.ft (2024)
• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Street (R.V.) / 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 would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. 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 Subramani Street (R.V.) / Pasumpon Nagar?

The Sub Registrar Office that covers Subramani Street (R.V.) / Pasumpon Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in the registration process for property transactions in Pammal. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for transactions and ensures transparency in the registration process. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Subramani Street (R.V.) / Pasumpon Nagar?

The current guideline value for Subramani Street (R.V.) / 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 significantly, from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890%.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office handles registrations for this street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles registrations for Subramani Street (R.V.) / Pasumpon Nagar.

How does the guideline value impact property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the government receives the appropriate revenue and maintaining transparency in the process.