Guideline Value for Kannan Street /Muthamzhi Nagar

Kannan Street /Muthamzhi Nagar guideline value

The current guideline value of Kannan 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, classified as Residential Class I Type - II.

How the guideline value of Kannan 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. The value further climbed to Rs 360 per sq.ft in 2007, a 31% increase from the previous revision. By 2017, the value surged to Rs 1,507 per sq.ft, reflecting a remarkable 319% increase. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% rise from 2017. The latest revision in 2024 has established the current guideline value at Rs 2,475 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Kannan Street /Muthamzhi Nagar for the year 2012. Overall, from 2002 to 2024, the guideline value has increased by 923%.

Guideline values in Pammal

In Pammal village, 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. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kannan Street /Muthamzhi Nagar's 2024 figure above this median.

• Kannan Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kannaiyeram Street /Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kannairam Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan 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 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 guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kannan Street /Muthamzhi Nagar?

Kannan Street /Muthamzhi Nagar falls under the jurisdiction of 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 when registering property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value helps establish a fair assessment of the property's worth, which is vital for both buyers and sellers to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

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

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 Kannan Street /Muthamzhi Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Kannan Street /Muthamzhi Nagar?

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.

Which office handles the registration for Kannan Street /Muthamzhi Nagar?

The Pammal Sub Registrar Office handles the registration for Kannan Street /Muthamzhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.