Guideline Value for Deivasigamani Street / Muthamazhi Nagar

Deivasigamani Street / Muthamazhi Nagar guideline value

The current guideline value of Deivasigamani Street / Muthamazhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Deivasigamani Street / Muthamazhi Nagar has changed

The guideline value of Deivasigamani Street / Muthamazhi Nagar has seen significant changes over the years. In 2002, the value was Rs 242 per sq.ft, which rose to Rs 274 per sq.ft in 2003, marking a 13% increase. The value then increased to Rs 360 per sq.ft in 2007, reflecting a 31% change. Following that, the value surged to Rs 1,507 per sq.ft in 2017, an impressive 319% increase. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has brought the guideline value to Rs 2,475 per sq.ft, which is a 10% increase.

Notably, 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 923%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, positioning Deivasigamani Street / Muthamazhi Nagar above this median.

• Deivasigamani Cross Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Deivanayagam Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Delhi Street / Thandai Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Devadas Street/Anna Nagar: Rs 2,750 per sq.ft (2024)
• Devadas Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Devadas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Deivasigamani 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 amounts to Rs 24,75,000. The stamp duty, charged at 7%, would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deivasigamani Street / Muthamazhi Nagar?

The Sub Registrar Office that covers Deivasigamani Street / Muthamazhi 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official valuation set by the authorities.

When a property is sold, the guideline value helps in establishing a fair price for the transaction, as it reflects the current market conditions as assessed by the registration department. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Deivasigamani Street / Muthamazhi Nagar?

The current guideline value of Deivasigamani Street / Muthamazhi Nagar is Rs 2,475 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 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, with Deivasigamani Street / Muthamazhi Nagar being above this median at Rs 2,475 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,22,750.

Which office handles the registration for Deivasigamani Street / Muthamazhi Nagar?

The Pammal Sub Registrar Office handles the registration for Deivasigamani Street / Muthamazhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.