Guideline Value for Mumurthi Nagar 4th Street

Mumurthi Nagar 4th Street guideline value

The current guideline value of Mumurthi Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Mumurthi Nagar 4th Street has changed

The guideline value for Mumurthi Nagar 4th Street has seen significant changes over the years. In 2003, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a 45% rise. The value then surged by 200% to reach Rs 3,000 per sq.ft in 2012. However, it dropped by 33% to Rs 2,010 per sq.ft in 2017. The value then increased by 49% to Rs 3,000 per sq.ft in 2023, and most recently, it has risen by 10% to Rs 3,300 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have 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 the same as the 2024 figure for Mumurthi Nagar 4th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 further assistance.

Which Sub Registrar Office covers Mumurthi Nagar 4th Street?

The Sub Registrar Office that covers Mumurthi Nagar 4th 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 information.

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

The guideline value plays a crucial role when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable during the transaction. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the real estate market.

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately. This value is essential for legal and financial purposes, ensuring that both buyers and sellers adhere to the regulations set by the state.

Frequently asked questions

What is the current guideline value of Mumurthi Nagar 4th Street?

The current guideline value of Mumurthi Nagar 4th 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 significantly from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over that period.

What is the stamp duty rate for properties in Mumurthi Nagar 4th Street?

The stamp duty rate for properties in Mumurthi Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mumurthi Nagar 4th Street?

The Sub Registrar Office for Mumurthi Nagar 4th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification of Mumurthi Nagar 4th Street?

Mumurthi Nagar 4th Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.