Guideline Value for Ellango Street (Muthamazhi Nagar)

Ellango Street (Muthamazhi Nagar) guideline value

The current guideline value for Ellango 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. The land classification for this area is Residential Class I Type - II.

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

Over the years, the guideline value of Ellango Street (Muthamazhi Nagar) has seen significant changes. In 2002, the guideline value was Rs 242 per sq.ft. It increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value further climbed to Rs 360 per sq.ft in 2007, which was a 31% increase from the previous revision. The 2012 revision has no figure available for this street. The next available figure is from 2017, where the guideline value was Rs 1,507 per sq.ft, reflecting a substantial increase of 319% from 2007. In 2023, the value rose to Rs 2,250 per sq.ft, a 49% increase from 2017. The current guideline value is Rs 2,475 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

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, with a median value of Rs 2,090 per sq.ft. The guideline value for Ellango Street (Muthamazhi Nagar) is above this median.

• Ellango Street (Hindustan Lever Colony): Rs 2,750 per sq.ft (2024)
• Ellango Street (Anna Nagar): Rs 2,750 per sq.ft (2024)
• Elumalai 2nd Lane (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Elumalai Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ellango 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, making the total cost of duty and registration Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ellango Street (Muthamazhi Nagar)?

The Sub Registrar Office that covers Ellango 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 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. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for Ellango Street (Muthamazhi Nagar)?

The current guideline value for Ellango 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?

Since 2002, the guideline value has increased from Rs 242 per sq.ft to Rs 2,475 per sq.ft in 2024, marking an overall increase of 923% over the years.

What is the land classification for Ellango Street (Muthamazhi Nagar)?

Ellango Street (Muthamazhi Nagar) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,22,750 in duties and fees.

Where can I find the Sub Registrar Office for Ellango Street (Muthamazhi Nagar)?

The Sub Registrar Office for Ellango Street (Muthamazhi Nagar) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information about your SRO online.