Guideline Value for Sundaram Street / Pasumpon Nagar

Sundaram Street / Pasumpon Nagar guideline value

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

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

The guideline value for Sundaram Street / Pasumpon Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 360 per sq.ft in 2007, a 59% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase from 2007. However, there is no figure available for this street in the 2012 revision.

Continuing the trend, the guideline value increased to Rs 1,800 per sq.ft in 2023, a 49% rise from 2017. The latest revision in 2024 set the guideline value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, 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 Sundaram Street / Pasumpon Nagar's guideline value below this median.

• Sundarvadivelu Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Surikulum: Rs 1,760 per sq.ft (2024)
• Suryamman Koil Street: Rs 1,760 per sq.ft (2024)
• Swaminathan Nagar (All Streets): Rs 1,870 per sq.ft (2024)
• Swami Vivekanadar Street: Rs 1,760 per sq.ft (2024)
• Subramani Street (R.V.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. Please 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 more details.

Which Sub Registrar Office covers Sundaram Street / Pasumpon Nagar?

The Sub Registrar Office that covers Sundaram Street / 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 for more information.

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

The guideline value is an important factor when registering a property in Pammal. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When selling property, the guideline value also plays a crucial role. Sellers must ensure that the property is registered at the correct guideline value to avoid any legal complications. It is advisable to consult with a legal expert or real estate professional for guidance on the registration process in Pammal.

Frequently asked questions

What is the current guideline value of Sundaram Street / Pasumpon Nagar?

The current guideline value of Sundaram 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 is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which is higher than the guideline value of Sundaram Street / Pasumpon Nagar.

What are the stamp duty rates for property in Sundaram Street / Pasumpon Nagar?

The stamp duty rate for property in Sundaram Street / Pasumpon Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sundaram Street / Pasumpon Nagar?

The Sub Registrar Office for Sundaram Street / Pasumpon Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.