Guideline Value for Vedhagiri Street, Pasumpon Nagar

Vedhagiri Street, Pasumpon Nagar guideline value

The current guideline value of Vedhagiri Street, Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal village and is classified as Residential Class II Type - II within the Pammal SRO.

How the guideline value of Vedhagiri Street, Pasumpon Nagar has changed

There are no figures available for Vedhagiri Street in the revisions from 2002, 2003, 2007, 2012, and 2017. However, the guideline value was Rs 1,800 per sq.ft in the 2023 revision, which increased by 10% to Rs 1,980 per sq.ft in the 2024 revision.

This change reflects a consistent adjustment in the guideline values over time, with the most recent increase marking a significant shift in the valuation for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value is Rs 2,090 per sq.ft, indicating that Vedhagiri Street's current value is below this median.

• Veeramamunivar Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Vedagiri Mudaliyar Street: Rs 1,980 per sq.ft (2024)
• Veeramani Street / Thriuvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Veerapandya Kattabooman Street / Muthumazhi Nagar: Rs 2,475 per sq.ft (2024)
• Veeraragavan Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Vasu Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhagiri 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 amounts to 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 cost for these fees Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedhagiri Street, Pasumpon Nagar?

The Sub Registrar Office that covers Vedhagiri 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 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 properties can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Vedhagiri Street, Pasumpon Nagar?

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

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024.

What is the land classification of Vedhagiri Street?

Vedhagiri Street is classified as Residential Class II Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vedhagiri Street?

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