Guideline Value for Avaiyar Street (Muthamazhi Nagar)

Avaiyar Street (Muthamazhi Nagar) guideline value

The current guideline value of Avaiyar Street (Muthamazhi Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and the land classification is Residential Class I Type - II.

How the guideline value of Avaiyar Street (Muthamazhi Nagar) has changed

The guideline value for Avaiyar Street (Muthamazhi Nagar) has seen significant changes over the years. In 2002, the value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a +31% increase. The 2017 revision saw a substantial jump to Rs 1,507 per sq.ft, which is a remarkable +319% increase from the 2007 figure. The guideline value further increased to Rs 2,250 per sq.ft in 2023, representing a +49% change from 2017. The current value of Rs 2,475 per sq.ft from the 2024 revision shows a +10% increase from the previous year.

The register has no figure for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by +923%.

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 value for these streets is Rs 2,090 per sq.ft, placing Avaiyar Street (Muthamazhi Nagar) above this median with its 2024 figure of Rs 2,475 per sq.ft.

• Asokan Street: Rs 1,980 per sq.ft (2024)
• Asireyar Samuel Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Ayyappa Nagar All Main Roads: Rs 1,980 per sq.ft (2024)
• Asireyar Krishnasawmy Street/ Pammal Main Road: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar (All Streets): Rs 1,870 per sq.ft (2024)
• Asireyar Krishnasawmy Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Avaiyar Street (Muthamazhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, these fees would total Rs 2,22,750. 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 Avaiyar Street (Muthamazhi Nagar)?

The Sub Registrar Office that covers Avaiyar Street (Muthamazhi 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 additional information.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a crucial figure used during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Avaiyar Street (Muthamazhi Nagar)?

The current guideline value of Avaiyar Street (Muthamazhi Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, which is an overall increase of +923%.

What are the stamp duty and registration fees for a property in Avaiyar Street (Muthamazhi Nagar)?

For a 1,000 sq.ft plot, the guideline value is Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, totaling Rs 2,22,750.

Which Sub Registrar Office is responsible for Avaiyar Street (Muthamazhi Nagar)?

The Pammal Sub Registrar Office is responsible for Avaiyar Street (Muthamazhi Nagar), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Pammal?

The guideline value for properties in Pammal is determined by the registration department and is used as a basis for calculating stamp duty and registration fees during property transactions.