Guideline Value for Muthamiaz Nagar

Muthamiaz Nagar guideline value

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

How the guideline value of Muthamiaz Nagar has changed

In the 2023 revision, the guideline value for Muthamiaz Nagar was Rs 2,250 per sq.ft. The recent 2024 revision has increased this value to Rs 2,475 per sq.ft, marking a change of +10%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Prior to the 2023 revision, there were no recorded figures for Muthamiaz Nagar in the previous revisions. The consistent updates in the guideline value reflect adjustments in the local real estate landscape.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with 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 Muthamiaz Nagar's 2024 figure above this median.

• Muthamiaz Nagar, 1st Street: 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

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, while the registration fee at 2% would be Rs 49,500, leading to a total of Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthamiaz Nagar?

The Sub Registrar Office that covers Muthamiaz 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 is a crucial factor when buying or selling property, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Muthamiaz Nagar?

The current guideline value of Muthamiaz Nagar 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. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Muthamiaz Nagar?

Muthamiaz Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development and activities.

How is the stamp duty calculated for properties in Muthamiaz Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 24,75,000, leading to a stamp duty of Rs 1,73,250.

Where can I find the Sub Registrar Office for Muthamiaz Nagar?

The Sub Registrar Office for Muthamiaz Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can also find your SRO online for more information.