Guideline Value for Madhavan Nair Street /Muthamzhi Nagar

Madhavan Nair Street /Muthamzhi Nagar guideline value

The current guideline value for Madhavan Nair 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 Madhavan Nair Street /Muthamzhi Nagar has changed

The guideline value for Madhavan Nair Street /Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003. The value continued to rise, reaching Rs 505 per sq.ft in 2007, and then saw a substantial jump to Rs 1,507 per sq.ft in 2017. The 2023 revision set the value at Rs 2,250 per sq.ft, and the most recent 2024 revision raised it to Rs 2,475 per sq.ft. There is no figure available for the 2012 revision for this street.

Overall, the guideline value has increased by 923% from 2002 to 2024. The change from 2023 to 2024 was +10%, while the increase from 2017 to 2023 was +49%. Other notable jumps include a +198% rise from 2007 to 2017 and a +84% increase from 2003 to 2007.

Guideline values in Pammal

Pammal village features 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, placing Madhavan Nair Street /Muthamzhi Nagar's 2024 figure above this median.

• Madhavan Nair Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Madhavan Nair Lane / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Cross Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nair 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.

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

Which Sub Registrar Office covers Madhavan Nair Street /Muthamzhi Nagar?

The Madhavan Nair Street /Muthamzhi Nagar area falls under 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 details.

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

The guideline value is a crucial factor when registering property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs associated with property transactions. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value for Madhavan Nair 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?

The guideline value has increased significantly, from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, representing an overall increase of 923% over this period.

What is the stamp duty for property in Madhavan Nair Street /Muthamzhi Nagar?

The stamp duty for property in Madhavan Nair Street /Muthamzhi Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Madhavan Nair Street /Muthamzhi Nagar?

The Sub Registrar Office covering Madhavan Nair Street /Muthamzhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the other streets in Pammal with guideline values?

Other streets in Pammal include Madhavan Nair Street, Krishna Nagar, and Madhavan Nair Cross Street, Krishna Nagar, both valued at Rs 2,530 per sq.ft in 2024, along with Madhavan Nair Lane / Muthamzhi Nagar and Madhavan Street / Muthamzhi Nagar, both at Rs 2,475 per sq.ft.