Guideline Value for Muthamiaz Nagar, 2nd Street

Muthamiaz Nagar, 2nd Street guideline value

The current guideline value of Muthamiaz Nagar, 2nd Street is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Muthamiaz Nagar, 2nd Street has changed

The guideline value for Muthamiaz Nagar, 2nd Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,250 per sq.ft, which increased by 10% to Rs 2,475 per sq.ft in the 2024 revision.

This change reflects a significant update in the guideline value, aligning it with other streets in the area. The previous revision in 2023 indicated a lower figure, and the 2024 value now stands above the median of Rs 2,090 per sq.ft for Pammal.

Guideline values in Pammal

Pammal village features a range of guideline values across its 926 streets under the Pammal SRO. The current guideline value for Muthamiaz Nagar, 2nd Street is above the median value of Rs 2,090 per sq.ft. Below are the guideline values for other streets in Pammal:

• Muthamiaz Nagar, 1st Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 3rd Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 4th Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 7th Cross Astreet: Rs 2,475 per sq.ft (2024)
• Murugesan Street, Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamiaz Nagar, 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,475 per sq.ft, the guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, totaling Rs 2,22,750. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamiaz Nagar, 2nd Street?

The Muthamiaz Nagar, 2nd Street is covered by 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, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for assessing property transactions within the Pammal area.

Frequently asked questions

What is the current guideline value of Muthamiaz Nagar, 2nd Street?

The current guideline value of Muthamiaz Nagar, 2nd Street is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2023 to Rs 2,475 per sq.ft in 2024, reflecting a 10% increase. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Muthamiaz Nagar, 2nd Street?

Muthamiaz Nagar, 2nd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Muthamiaz Nagar, 2nd Street located?

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