Guideline Value for Kamaraj Street / Muvendar Nagar

Kamaraj Street / Muvendar Nagar guideline value

The current guideline value of Kamaraj Street / Muvendar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamaraj Street / Muvendar Nagar has changed

The guideline value for Kamaraj Street / Muvendar Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value further escalated to Rs 360 per sq.ft in 2007, representing a 69% increase from the previous revision. By 2017, the guideline value surged to Rs 1,206 per sq.ft, reflecting a substantial 235% increase. However, there is no figure available for the year 2012.

In the subsequent revisions, the guideline value continued to rise, reaching Rs 1,800 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, showing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by an impressive 953%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, which means Kamaraj Street / Muvendar Nagar's 2024 value is below this median.

• Kamaraj Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kamaraj Street/Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kamaraj Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Kamaraj Street / Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kamaraj Ngar, Thiruneermalai Road: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar (3rd Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street / Muvendar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would amount to Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. 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 Kamaraj Street / Muvendar Nagar?

The Sub Registrar Office that covers Kamaraj Street / Muvendar 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 that must be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable fees.

Understanding the guideline value is essential for ensuring compliance with local regulations and for making informed decisions during property transactions in Pammal. It helps in assessing the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Street / Muvendar Nagar?

The current guideline value of Kamaraj Street / Muvendar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking a total increase of 953% over the years.

What are the stamp duty and registration fees for property in Kamaraj Street / Muvendar Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Kamaraj Street / Muvendar Nagar?

The Pammal Sub Registrar Office handles property registrations for Kamaraj Street / Muvendar Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is important for buyers and sellers to understand this value as it affects the overall cost of the transaction.