Guideline Value for Muthurangam Street

Muthurangam Street guideline value

The current guideline value of Muthurangam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Muthurangam Street has changed

The guideline value for Muthurangam Street has seen significant changes over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This marked an increase of 12%. The value then rose dramatically to Rs 1,340 per sq.ft in 2017, reflecting a substantial increase of 283%. Following this, the value was Rs 2,000 per sq.ft in 2023, showing a 49% increase from the previous revision. The latest revision in 2024 sets the value at Rs 2,200 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for Muthurangam Street. Overall, from 2003 to 2024, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with the median value being Rs 2,420 per sq.ft. Muthurangam Street's 2024 figure is below this median.

• Muthuthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 2,420 per sq.ft (2024)
• Nagappa Nagar 1st Cross Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Cross Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthurangam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muthurangam Street?

The Sub Registrar Office that covers Muthurangam Street 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 more information.

How the guideline value is used when you buy or sell in Thiruneermalai

The guideline value is a crucial factor when buying or selling property in Thiruneermalai, 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 applicable during the transaction.

Frequently asked questions

What is the current guideline value of Muthurangam Street?

The current guideline value of Muthurangam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 312 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a rise of 605% overall.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees would total Rs 1,98,000.

Which office handles property registration for Muthurangam Street?

The Pammal Sub Registrar Office is responsible for property registration in Muthurangam Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for streets in Thiruneermalai is Rs 2,420 per sq.ft, with Muthurangam Street's guideline value being below this median.