Guideline Value for Maamalan Street

Maamalan Street guideline value

The current guideline value of Maamalan Street in Pammal village, under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - II.

How the guideline value of Maamalan Street has changed

The guideline value for Maamalan Street has seen significant changes over the years. In 2002, the guideline value was Rs 94 per sq.ft. This increased to Rs 107 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 260 per sq.ft in 2007, which was a 143% increase. By 2017, the guideline value reached Rs 1,072 per sq.ft, reflecting a substantial 312% increase from the previous revision. The 2012 revision does not have a figure for this street.

From 2017 to 2023, the guideline value increased to Rs 1,600 per sq.ft, which is a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, representing a 10% increase from the previous year.

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 for these streets is Rs 2,090 per sq.ft, indicating that Maamalan Street's 2024 figure is below this median.

• Lurthu Madha Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Lurth Madha Street: Rs 1,980 per sq.ft (2024)
• Madavi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Loganathan Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Maamalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maamalan Street?

The Sub Registrar Office that covers Maamalan Street is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in 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 plays a crucial role during property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Maamalan Street?

The current guideline value of Maamalan Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 94 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 1,772% over the years.

Which Sub Registrar Office covers Maamalan Street?

The Sub Registrar Office that covers Maamalan Street is the Pammal Sub Registrar Office, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for properties in Maamalan Street?

For a property valued at Rs 17,60,000, the stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400 for these fees.

What is the land classification of Maamalan Street?

The land classification for Maamalan Street is Residential Class III Type - II, indicating its designated use for residential purposes.