Guideline Value for Andal Parangkusam Street (Muvendar Nagar)

Andal Parangkusam Street (Muvendar Nagar) guideline value

The current guideline value of Andal Parangkusam Street (Muvendar Nagar) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Andal Parangkusam Street (Muvendar Nagar) has changed

The guideline value for Andal Parangkusam Street has seen significant changes over the years. In 2002, the guideline value was Rs 138 per sq.ft. This figure increased to Rs 212 per sq.ft in 2003, marking a 54% rise. The value further increased to Rs 260 per sq.ft in 2007, which is a 23% change. By 2017, the guideline value surged to Rs 1,072 per sq.ft, reflecting a remarkable 312% increase from 2007. The 2023 revision set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The current guideline value is Rs 1,760 per sq.ft, representing a 10% rise from the previous year.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,175%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 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, placing the current value of Andal Parangkusam Street below this median.

• Angalaman Koil 1st Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Angalaman Koil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Angalamman Koil Street (Thiruneermalai Main Road): Rs 2,200 per sq.ft (2024)
• Anbazhagan Street (Anna Nagar): Rs 2,750 per sq.ft (2024)
• AnathaRamakrishnan Street (V.O.C.Nagar): Rs 2,750 per sq.ft (2024)
• Anathanarayanan Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Parangkusam Street (Muvendar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Parangkusam Street (Muvendar Nagar)?

The Sub Registrar Office that covers Andal Parangkusam Street (Muvendar 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 a critical factor when buying or selling property in Pammal. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will charge stamp duty based on the higher of the guideline value or the sale price. Therefore, it is essential for buyers to understand the guideline value to accurately estimate the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Andal Parangkusam Street?

The current guideline value of Andal Parangkusam Street (Muvendar Nagar) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 138 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1,175% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal village is Rs 2,090 per sq.ft, which is higher than the current guideline value of Rs 1,760 per sq.ft for Andal Parangkusam Street.

What are the stamp duty rates applicable in Pammal?

The stamp duty rate in Pammal is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Andal Parangkusam Street located?

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