Guideline Value for Muthu Street, Central Bank Colony

Muthu Street, Central Bank Colony guideline value

The current guideline value of Muthu Street in Central Bank Colony, Pammal village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Muthu Street, Central Bank Colony has changed

The guideline value for Muthu Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 1,800 per sq.ft in 2023, which increased to Rs 1,980 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Muthu Street in the aforementioned years. The significant increase from Rs 1,800 to Rs 1,980 reflects the latest assessment by the Registration Department.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Muthu Street's 2024 guideline value of Rs 1,980 per sq.ft is below this median.

• Muthu Street /VeeraSwamy Nagar: 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, Central Bank Colony

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, while the registration fee at 2% would be Rs 39,600, bringing the total costs together to Rs 1,78,200. It is important to note that the 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, Central Bank Colony?

The Sub Registrar Office that covers Muthu Street, Central Bank Colony is located at Pammal Sub Registrar Office, 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 property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Frequently asked questions

What is the current guideline value of Muthu Street, Central Bank Colony?

The current guideline value of Muthu Street, Central Bank Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, which is a change of +10%.

What is the land classification of Muthu Street?

Muthu Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Muthu Street?

For a 1,000 sq.ft plot at the guideline value of Rs 1,980 per sq.ft, the total guideline value is Rs 19,80,000. The stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Muthu Street located?

The Sub Registrar Office for Muthu Street, Central Bank Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.