Guideline Value for Vadivelu Street / Pasumpon Nagar

Vadivelu Street / Pasumpon Nagar guideline value

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

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

The guideline value for Vadivelu Street / Pasumpon Nagar has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which 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 substantial increase of 59%. Following this, the 2017 revision set the value at Rs 1,206 per sq.ft, reflecting a 235% jump from the previous figure. The register has no figure for this street in 2012.

In the 2023 revision, the guideline value reached Rs 1,800 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 1,980 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Within Pammal village, 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 is Rs 2,090 per sq.ft, indicating that Vadivelu Street / Pasumpon Nagar's 2024 figure is below that median.

• Vadivel Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Vadivel Street, H.L. Colony: Rs 2,530 per sq.ft (2024)
• Vaidyalingam Street (Me.Aa.)/ Muthamzhi Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street, Gandhi Nagar Ext: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivelu 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, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivelu Street / Pasumpon Nagar?

The Sub Registrar Office that covers Vadivelu 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 a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890% over this period.

Which Sub Registrar Office covers this area?

The Pammal Sub Registrar Office covers Vadivelu Street / Pasumpon Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which indicates that Vadivelu Street / Pasumpon Nagar's 2024 figure is below this median.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at a rate of 7%.