Guideline Value for Munuadhi Street / Pasumpon Nagar

Munuadhi Street / Pasumpon Nagar guideline value

The current guideline value of Munuadhi Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Munuadhi Street / Pasumpon Nagar has changed

Since its first revision in 2002, the guideline value has seen significant increases. The 2002 revision set the value at Rs 200 per sq.ft, which rose to Rs 226 per sq.ft in 2003, marking a 13% increase. The value then increased to Rs 360 per sq.ft in 2007, a rise of 59%. Following this, the 2017 revision saw a substantial jump to Rs 1,206 per sq.ft, representing a 235% increase. The value remained unchanged in 2012, as the register has no figure for this street in that year. In 2023, the guideline value was set at Rs 1,800 per sq.ft, which increased by 49% to reach the current value of Rs 1,980 per sq.ft in 2024, reflecting a 10% change.

Overall, from 2002 to 2024, the guideline value has increased by 890%, showcasing the significant changes over the years. Each revision has contributed to the current landscape of property values in the area, with the latest figure of Rs 1,980 per sq.ft now in effect.

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 of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Munuadhi Street / Pasumpon Nagar's current value below this median.

• Munuadhi Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Mestri Street: Rs 1,760 per sq.ft (2024)
• Munuswamy Street (Cho) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street /Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Murdasa Street / Lord Srinivasa Colony: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Munuadhi Street / Pasumpon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munuadhi Street / Pasumpon Nagar?

The Sub Registrar Office that covers Munuadhi Street / Pasumpon Nagar is 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted at a fair value as per the government norms.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Munuadhi Street / Pasumpon Nagar?

The current guideline value of Munuadhi Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which is higher than the current value of Munuadhi Street / Pasumpon Nagar.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft, the total fees would be Rs 1,78,200.

Which office handles property registration for Munuadhi Street / Pasumpon Nagar?

The Pammal Sub Registrar Office handles property registration for Munuadhi Street / Pasumpon Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.