Guideline Value for Mahimai Dasan Street, Periyar Nagar

Mahimai Dasan Street, Periyar Nagar guideline value

The current guideline value of Mahimai Dasan Street, Periyar Nagar is Rs 1,980 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 II Type - II.

How the guideline value of Mahimai Dasan Street, Periyar Nagar has changed

The guideline value for Mahimai Dasan Street has undergone several revisions over the years. In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the value increase further by 10% to Rs 1,980 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64% in the guideline value.

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 as per the 2024 revision. The median value for these streets is Rs 2,090 per sq.ft, placing Mahimai Dasan Street's 2024 figure below this median.

• Mahaveer Street / Sathya Nagar: Rs 1,760 per sq.ft (2024)
• Mahatama Gandhi Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Mahalingam Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Magimaidas Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Manavai Nagarathinam Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Mahimai Dasan Street, Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that the 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 Mahimai Dasan Street, Periyar Nagar?

The Sub Registrar Office that covers Mahimai Dasan Street, Periyar 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 an essential factor in the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mahimai Dasan Street?

The current guideline value of Mahimai Dasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the classification of land on Mahimai Dasan Street?

Mahimai Dasan Street is classified as Residential Class II Type - II under the Pammal SRO.

What are the stamp duty rates for properties in Pammal?

The stamp duty for properties in Pammal is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Mahimai Dasan Street?

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