Guideline Value for Maraimalaiaddikal Street /Muthumazhi Nagar

Maraimalaiaddikal Street /Muthumazhi Nagar guideline value

The current guideline value of Maraimalaiaddikal Street /Muthumazhi 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 Maraimalaiaddikal Street /Muthumazhi Nagar has changed

The guideline value for Maraimalaiaddikal Street /Muthumazhi 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, marking an increase of 13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 31% increase. By 2017, the guideline value reached Rs 1,507 per sq.ft, showing a substantial increase of 319%. The 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase from the previous figure. The latest revision in 2024 has established the guideline value at Rs 2,475 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure for this street in the 2012 revision. 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 for 2024 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 Maraimalaiaddikal Street /Muthumazhi Nagar above this median.

• Mapupi Street, Sri Saraswathi Muthupandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Ma.Po.Si Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Mariadoss Compound, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Mariamman Koil Street / Adam Nagar: Rs 2,750 per sq.ft (2024)
• Mariamman Koil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Maraimalaiaddikal Street /Muthumazhi 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, charged at 7%, would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, the total cost for stamp duty and registration would be Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maraimalaiaddikal Street /Muthumazhi Nagar?

The Sub Registrar Office that covers Maraimalaiaddikal Street /Muthumazhi 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 crucial factor in property transactions in Pammal. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the stamp duty is charged based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maraimalaiaddikal Street /Muthumazhi Nagar?

The current guideline value of Maraimalaiaddikal Street /Muthumazhi 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 changed significantly, increasing from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, which is an overall increase of 923%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

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

How is the guideline value determined for properties in Pammal?

The guideline value is determined by the Registration Department and is based on various factors, including the location and classification of the property. It is revised periodically to reflect changes in the real estate market.