Guideline Value for Madavi Street / Muthamzhi Nagar

Madavi Street / Muthamzhi Nagar guideline value

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

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

The guideline value for Madavi Street / Muthamzhi Nagar 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 increased 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% change. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from the previous figure. The current value in 2024 is Rs 2,475 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. 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. The median guideline value in this area is Rs 2,090 per sq.ft, positioning Madavi Street / Muthamzhi Nagar above this median.

• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Maamalan Street: Rs 1,760 per sq.ft (2024)
• Lurthu Madha Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Lurth Madha Street: Rs 1,980 per sq.ft (2024)
• Madhavan Nair Cross Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)

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

The Sub Registrar Office covering Madavi Street / Muthamzhi Nagar is the Pammal Sub Registrar Office, located at 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 in property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the fees are based on a standardized value rather than fluctuating market prices.

When selling property, the guideline value helps establish a baseline for negotiations and can influence the final sale price. Buyers and sellers should be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

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

The current guideline value of Madavi 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%.

What is the median guideline value in Pammal?

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

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

For a 1,000 sq.ft plot, the total guideline value is 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 Madavi Street / Muthamzhi Nagar?

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