Guideline Value for Kannageyi Street /Muthamzhi Nagar

Kannageyi Street /Muthamzhi Nagar guideline value

The current guideline value for Kannageyi Street /Muthamzhi Nagar is Rs 2,475 per sq.ft. This property is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

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

The guideline value has seen significant changes over the years. In 2002, the value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a 13% rise. By 2007, the value rose to Rs 360 per sq.ft, a 31% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,507 per sq.ft, reflecting a 319% increase from 2007. The value further increased to Rs 2,250 per sq.ft in 2023, which was a 49% rise from 2017. The current 2024 revision sets the guideline value at Rs 2,475 per sq.ft, representing a 10% increase from 2023.

Notably, the register has no figure for Kannageyi Street /Muthamzhi Nagar in 2012. 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 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,090 per sq.ft, making the current value of Kannageyi Street /Muthamzhi Nagar above this median.

• Kannageyi Street (Gandhi Nagar): Rs 2,475 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannadasan Street (Hindustan Lever Colony): Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kannageyi Street /Muthamzhi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,475 per sq.ft, the guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kannageyi Street /Muthamzhi Nagar?

The Sub Registrar Office that covers Kannageyi 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 plays a crucial role in property transactions in Pammal. It serves as a benchmark for determining the registration fees and stamp duty payable when a property is sold or purchased. The higher of the guideline value or the sale price is used to calculate these charges.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations associated with the transaction. Ensuring compliance with the guideline value helps in smooth registration and legal processes.

Frequently asked questions

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

The current guideline value of Kannageyi Street /Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

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

The guideline value is used to determine the registration fees and stamp duty payable during property transactions. It helps establish a financial benchmark for buyers and sellers.

Where can I find the Sub Registrar Office for Kannageyi Street /Muthamzhi Nagar?

The Sub Registrar Office for Kannageyi Street /Muthamzhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.