Guideline Value for Kovalan Street / Muthamzhi Nagar

Kovalan Street / Muthamzhi Nagar guideline value

The current guideline value of Kovalan Street / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, with a land classification of Residential Class I Type - II.

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

The guideline value for Kovalan Street / Muthamzhi Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, reflecting a 31% change. By 2017, the guideline value had surged to Rs 1,507 per sq.ft, a significant increase of 319%. The most recent revision before the current one was in 2023, where the value stood at Rs 2,250 per sq.ft, showing a 49% rise from 2017. The 2024 revision sees the guideline value set at Rs 2,475 per sq.ft, an increase of 10% from the previous year.

It is important to note that there is no figure available for the 2012 revision in the register for this street.

Guideline values in Pammal

Pammal village has a total of 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 Kovalan Street / Muthamzhi Nagar's 2024 figure above this median.

• Kothadan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Koshi Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Krishna Nagar / 1st Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar, 1st Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar /2nd Cross Street: Rs 2,530 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 Kovalan 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 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, bringing the total fees to Rs 2,22,750. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kovalan Street / Muthamzhi Nagar?

The Sub Registrar Office that covers Kovalan Street / Muthamzhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the 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 a critical factor in the registration of property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property transactions. Accurate assessment of the guideline value helps in understanding the financial implications of buying or selling property in the area.

Frequently asked questions

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

The current guideline value of Kovalan 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?

Since 2002, the guideline value has increased from Rs 242 per sq.ft to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923% over the years.

What was the guideline value in 2023?

The guideline value for Kovalan Street / Muthamzhi Nagar in 2023 was Rs 2,250 per sq.ft.

Which Sub Registrar Office should I approach for transactions in Kovalan Street / Muthamzhi Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,22,750.