Guideline Value for Muthamiaz Nagar,1st Street,

Muthamiaz Nagar,1st Street, guideline value

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

How the guideline value of Muthamiaz Nagar,1st Street, has changed

The guideline value for Muthamiaz Nagar,1st Street, has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 2,250 per sq.ft, which was then increased by 10% to the current value of Rs 2,475 per sq.ft in the 2024 revision.

This increase from 2023 to 2024 reflects a notable adjustment in the guideline value. With the current value being Rs 2,475 per sq.ft, it indicates the ongoing changes in the property landscape in the area.

Guideline values in Pammal

Pammal village features a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,090 per sq.ft, placing Muthamiaz Nagar,1st Street, above this median.

• Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 2nd Street: Rs 2,475 per sq.ft (2024)
• Muthamiaz Nagar, 3rd Street: 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,1st Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total 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, bringing the total to Rs 2,22,750. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamiaz Nagar,1st Street,?

The Muthamiaz Nagar,1st Street, falls under the jurisdiction of 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 when registering property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction process.

When buying or selling property, it is essential to consider the guideline value as it directly influences the costs associated with the registration. This ensures that all parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Muthamiaz Nagar,1st Street?

The current guideline value of Muthamiaz Nagar,1st 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 for Muthamiaz Nagar,1st Street, has increased 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 have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Muthamiaz Nagar,1st Street?

Muthamiaz Nagar,1st Street, is classified as Residential Class I Type - II. This classification is important for understanding the types of developments permitted in the area.

Where can I find the Sub Registrar Office for Muthamiaz Nagar,1st Street?

The Sub Registrar Office covering Muthamiaz Nagar,1st Street, is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250 at a rate of 7%.