Guideline Value for Lakshman Street / Muthamzhi Nagar

Lakshman Street / Muthamzhi Nagar guideline value

The current guideline value of Lakshman 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, and is classified as Residential Class I Type - II.

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

Since the 2002 revision, the guideline value for Lakshman Street / Muthamzhi Nagar has seen significant increases. In 2002, the guideline value was Rs 242 per sq.ft, which rose to Rs 274 per sq.ft in 2003, marking a 13% increase. The value continued to rise to Rs 360 per sq.ft in 2007, a 31% increase, and then surged to Rs 1,507 per sq.ft in 2017, reflecting a remarkable 319% increase. The 2023 revision set the value at Rs 2,250 per sq.ft, a 49% increase from the previous figure. The current 2024 revision shows a further increase to Rs 2,475 per sq.ft, which is a 10% rise.

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

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Lakshman Street / Muthamzhi Nagar above that median.

• Lakshman Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Lakshman Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• K.V.K. Swamy Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Lakshminaranyan Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman 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 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 details.

Which Sub Registrar Office covers Lakshman Street / Muthamzhi Nagar?

The Sub Registrar Office that covers Lakshman 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 a critical factor in property transactions in Pammal, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

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

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

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Lakshman Street / Muthamzhi Nagar's 2024 value being above this median.

What are the stamp duty and registration fees for properties 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.

Where is the Sub Registrar Office located for this street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.