Guideline Value for Kesavan Street / Muthamzhi Nagar

Kesavan Street / Muthamzhi Nagar guideline value

The current guideline value of Kesavan 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 Kesavan Street / Muthamzhi Nagar has changed

The guideline value for Kesavan Street / Muthamzhi Nagar has undergone several revisions 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 continued to rise significantly, reaching Rs 360 per sq.ft in 2007, a 31% increase from the previous revision. By 2017, the value had surged to Rs 1,507 per sq.ft, reflecting a remarkable 319% increase from 2007. The 2023 revision set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised the guideline value to Rs 2,475 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figure for this street 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 as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kesavan Street / Muthamzhi Nagar above this median.

• Kenndy Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Kennadi Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Kiruba Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kaveri Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Kaveri Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• K.M. Manjan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,475 per sq.ft, the 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, leading to a total of Rs 2,22,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kesavan Street / Muthamzhi Nagar?

The Sub Registrar Office that covers Kesavan Street / Muthamzhi 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 information.

How the guideline value is used when you buy or sell in Pammal

The guideline value is an essential factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property, it is crucial to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Ensuring accurate compliance with these values helps facilitate a smoother registration process.

Frequently asked questions

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

The current guideline value of Kesavan 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 changed significantly from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923%.

Is there a guideline value for Kesavan Street / Muthamzhi Nagar in 2012?

No, the register has no figure for Kesavan Street / Muthamzhi Nagar in 2012.

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

For a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250, and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

Which office handles the registration of properties in Kesavan Street / Muthamzhi Nagar?

The registration of properties in Kesavan Street / Muthamzhi Nagar is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.