Guideline Value for Munuswamy Street (Cho) / Muthamzhi Nagar

Munuswamy Street (Cho) / Muthamzhi Nagar guideline value

The current guideline value for Munuswamy Street (Cho) / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Munuswamy Street (Cho) / Muthamzhi Nagar has changed

The guideline value for Munuswamy Street (Cho) / Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 242 per sq.ft. This increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 31% increase from the previous revision. However, from 2007 to 2023, the guideline value surged to Rs 2,250 per sq.ft, which is a remarkable 525% increase.

The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 923%. It is important to note that there are no figures available for this street for the years 2012 and 2017.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, 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 Munuswamy Street (Cho) / Muthamzhi Nagar above this median.

• Munuswamy Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Munuswamy Mestri Street: Rs 1,760 per sq.ft (2024)
• Murdasa Street / Lord Srinivasa Colony: Rs 1,760 per sq.ft (2024)
• Murthy Lane / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Munuadhi Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Street (Cho) / Muthamzhi 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 at 7% would amount to Rs 1,73,250, while the registration fee at 2% would be Rs 49,500. Together, these fees would total 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Munuswamy Street (Cho) / Muthamzhi Nagar?

The Sub Registrar Office that covers Munuswamy Street (Cho) / Muthamzhi 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 more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the necessary stamp duty and registration fees.

Moreover, the guideline value ensures transparency in property transactions, as it helps prevent undervaluation of properties during registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Munuswamy Street (Cho) / Muthamzhi Nagar?

The current guideline value for Munuswamy Street (Cho) / Muthamzhi Nagar is Rs 2,475 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 242 per sq.ft to Rs 2,475 per sq.ft in 2024, marking an overall increase of 923% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,75,000, the total fees would amount to Rs 2,22,750.

Which office handles property registration for this street?

The Pammal Sub Registrar Office handles property registration for Munuswamy Street (Cho) / Muthamzhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with similar guideline values in Pammal?

Yes, there are several other streets in Pammal with varying guideline values. For instance, Munuswamy Street / Thiruvallur Nagar also has a guideline value of Rs 2,475 per sq.ft, while Munuswamy Street / Veeraswamy Nagar is valued at Rs 1,980 per sq.ft.