Guideline Value for Vasudevan Street/ Pasumpon Nagar

Vasudevan Street/ Pasumpon Nagar guideline value

The current guideline value of Vasudevan 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 is classified as Residential Class II Type - II.

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

The guideline value for Vasudevan Street/ Pasumpon Nagar has seen significant changes 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 further increased to Rs 360 per sq.ft in 2007, reflecting a 59% growth from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007, the guideline value rose dramatically to Rs 1,800 per sq.ft in 2023, representing a 400% increase. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, showing 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 with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, placing Vasudevan Street/ Pasumpon Nagar's 2024 figure below this median.

• Vasuki Ammaiyar Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Vasu Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Vedagiri Mudaliyar Street: Rs 1,980 per sq.ft (2024)
• Vedhagiri Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Veeramamunivar Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Veeramani Street / Thriuvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevan 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, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasudevan Street/ Pasumpon Nagar?

The Sub Registrar Office that covers Vasudevan Street/ Pasumpon Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 essential factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Vasudevan 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?

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

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Which office handles property registrations for Vasudevan Street/ Pasumpon Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in Vasudevan Street/ Pasumpon Nagar.

Are there other streets in Pammal with different guideline values?

Yes, there are several other streets in Pammal with varying guideline values, ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024.