Guideline Value for Devarajan Street / Muthamzhi Nagar

Devarajan Street / Muthamzhi Nagar guideline value

The current guideline value of Devarajan Street / Muthamzhi 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Devarajan Street / Muthamzhi Nagar has changed

The guideline value for Devarajan Street / Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 201 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a change of 36%. The value continued to rise, reaching Rs 360 per sq.ft in 2007, a 31% increase from the previous revision. By 2017, the value had jumped to Rs 1,507 per sq.ft, reflecting a remarkable increase of 319%. The 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has further increased the guideline value to Rs 2,475 per sq.ft, which is a 10% rise from 2023.

It is important to note that there is no figure available for Devarajan Street / Muthamzhi Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,131%.

Guideline values in Pammal

Pammal village has a total of 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 guideline value for these streets is Rs 2,090 per sq.ft, placing Devarajan Street / Muthamzhi Nagar above this median.

• Devarajan Street/ Central Bank Colony: Rs 1,980 per sq.ft (2024)
• Devarajan Street /Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devarajan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Devadas Street /Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Devadas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devadas Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan Street / Muthamzhi 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, while the registration fee at 2% would be Rs 49,500. The total cost for stamp duty and registration would be Rs 2,22,750. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devarajan Street / Muthamzhi Nagar?

The Sub Registrar Office covering Devarajan Street / Muthamzhi 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 more details.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher.

This ensures that the government collects the appropriate revenue from property transactions. Buyers should be aware of the guideline value in their area to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Devarajan Street / Muthamzhi Nagar?

The current guideline value of Devarajan Street / Muthamzhi 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 increased significantly from Rs 201 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 1,131% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Devarajan Street / Muthamzhi 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?

For a property valued at Rs 24,75,000, the stamp duty is Rs 1,73,250 and the registration fee is Rs 49,500, totaling Rs 2,22,750.

Where is the Sub Registrar Office located for this street?

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