Guideline Value for Vallalar Street / Pasumpon Nagar

Vallalar Street / Pasumpon Nagar guideline value

The current guideline value of Vallalar Street / 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 it falls under the Residential Class II Type - II land classification.

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

The guideline value of Vallalar Street / Pasumpon Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a 13% rise. By 2007, the value reached Rs 360 per sq.ft, which was a 59% increase from the previous revision. However, there are no figures available for the revisions in 2012, 2017, and 2023.

The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a substantial increase of 450% from the 2007 figure. 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 in this area is Rs 2,090 per sq.ft, positioning Vallalar Street / Pasumpon Nagar below this median.

• Vallalar Street, Gandhi Nagar Ext: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Vallal Pari Street, Muthamiaz Nagar: Rs 1,980 per sq.ft (2024)
• Vallal Pari Street / Muthamzhi Nagar: Rs 1,980 per sq.ft (2024)
• Valliammai Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Valliamman Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar 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 the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street / Pasumpon Nagar?

The Vallalar 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 in the registration process of property transactions 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 compared against the agreed sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Vallalar 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 changed significantly, from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 890% over this period.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include Vallalar Street, Gandhi Nagar Ext, Vallalar Street / Sathya Nagar, Vallal Pari Street, Muthamiaz Nagar, Vallal Pari Street / Muthamzhi Nagar, Valliammai Street, Nehru Nagar, and Valliamman Street / Lord Srinivasa Colony.

What is the registration fee for property in Vallalar Street / Pasumpon Nagar?

The registration fee for property in Vallalar Street / Pasumpon Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the registration fee at 2% would be Rs 39,600.

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

The Sub Registrar Office covering Vallalar Street / Pasumpon Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information about your SRO online.