Guideline Value for Mumurthi Nagar 3rd Street

Mumurthi Nagar 3rd Street guideline value

The current guideline value of Mumurthi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mumurthi Nagar 3rd Street has changed

The guideline value for Mumurthi Nagar 3rd Street has seen several revisions over the years. In the 2003 revision, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 45%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a 200% increase. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest 2024 revision raised it to Rs 3,300 per sq.ft, a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 378%. It is important to note that the register does not have a figure for this street for the year 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Mumurthi Nagar 3rd Street.

• Mumurthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Muneswarar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mumurthi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mumurthi Nagar 3rd Street?

The Sub Registrar Office that covers Mumurthi Nagar 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value for Mumurthi Nagar 3rd Street?

The current guideline value for Mumurthi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 378% over this period.

What is the stamp duty for property in Mumurthi Nagar 3rd Street?

The stamp duty for property in Mumurthi Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mumurthi Nagar 3rd Street located?

The Sub Registrar Office for Mumurthi Nagar 3rd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the guideline value determined for properties in Zaminpallavaram?

The guideline value for properties in Zaminpallavaram is determined by the Registration Department's guideline value register, which is revised periodically based on various factors.