Guideline Value for Muthu Street /VeeraSwamy Nagar

Muthu Street /VeeraSwamy Nagar guideline value

The current guideline value of Muthu Street /VeeraSwamy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Muthu Street /VeeraSwamy Nagar has changed

The guideline value for Muthu Street /VeeraSwamy Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a change of +13%. By 2007, the value rose to Rs 360 per sq.ft, reflecting a substantial increase of +73%. Subsequently, the value surged to Rs 1,800 per sq.ft in 2023, a remarkable +400% increase from the 2007 figure.

The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a +10% increase from the 2023 value. Overall, the guideline value has increased by +976% from 2002 to 2024. Notably, the register does not contain figures for the years 2012 and 2017 for this street.

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 Muthu Street /VeeraSwamy Nagar's 2024 figure below that median.

• Muthu Street, Central Bank Colony: Rs 1,980 per sq.ft (2024)
• Muthusha Cross Street, Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Muthuswamy Street Extn.: Rs 1,980 per sq.ft (2024)
• Muthuswamy Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Muthuswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Street /VeeraSwamy 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, making the total cost for these fees Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthu Street /VeeraSwamy Nagar?

The Sub Registrar Office that covers Muthu Street /VeeraSwamy Nagar is 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 during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and fairly, reflecting the prevailing market conditions as per the guideline value.

Frequently asked questions

What is the current guideline value of Muthu Street /VeeraSwamy Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of +976%.

What is the land classification for Muthu Street /VeeraSwamy Nagar?

Muthu Street /VeeraSwamy Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office for Muthu Street /VeeraSwamy Nagar located?

The Sub Registrar Office for Muthu Street /VeeraSwamy Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,78,200.