Guideline Value for Indira Gandhi Street, Muthamiaz Nagar

Indira Gandhi Street, Muthamiaz Nagar guideline value

The current guideline value for Indira Gandhi Street, Muthamiaz Nagar is Rs 2,750 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 Commercial Class I Type - II.

How the guideline value of Indira Gandhi Street, Muthamiaz Nagar has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 2,500 per sq.ft, marking a 49% increase from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% rise from the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline value indicates changes in the property landscape in the area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value of these streets is Rs 2,090 per sq.ft, placing Indira Gandhi Street's 2024 figure above that median.

• Indra Gandhi Salai (Anna Nagar): Rs 2,750 per sq.ft (2024)
• Indra Nagar, 1st Street: Rs 2,200 per sq.ft (2024)
• Indra Nagar, 2nd Street: Rs 2,200 per sq.ft (2024)
• Indra Nagar (All Streets): Rs 2,200 per sq.ft (2024)
• Ibrahaim Motha Street: Rs 1,980 per sq.ft (2024)
• Irattai Pillaiyar Koil 1st Street, Pammal: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street, Muthamiaz Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees Rs 2,47,500. It is important 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 Indira Gandhi Street, Muthamiaz Nagar?

The Sub Registrar Office that covers Indira Gandhi Street, Muthamiaz 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 during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street, Muthamiaz Nagar?

The current guideline value of Indira Gandhi Street, Muthamiaz Nagar is Rs 2,750 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 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a 64% increase overall.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Indira Gandhi Street?

The Pammal Sub Registrar Office covers Indira Gandhi Street, Muthamiaz Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Indira Gandhi Street?

The land classification for Indira Gandhi Street, Muthamiaz Nagar is Commercial Class I Type - II.