Guideline Value for Muthusha Cross Street, Lord Srinivasa Colony

Muthusha Cross Street, Lord Srinivasa Colony guideline value

The current guideline value for Muthusha Cross Street, Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Muthusha Cross Street, Lord Srinivasa Colony has changed

The guideline value for Muthusha Cross Street has undergone significant changes over the years. The earliest recorded revision was in 2002, 2003, 2007, 2012, and 2023, but the register has no figure for this street in those years. The 2017 revision set the value at Rs 1,206 per sq.ft, which was then revised to Rs 1,980 per sq.ft in 2024, marking an increase of 64%.

Comparing the 2017 and 2024 revisions, we see a notable rise in the guideline value, highlighting the changes in property valuation over this period. As of 2024, the current guideline value stands at Rs 1,980 per sq.ft, reflecting the latest assessment by the Registration Department.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values 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 Muthusha Cross Street's 2024 figure below this median.

• Muthu Street, Central Bank Colony: Rs 1,980 per sq.ft (2024)
• Muthu Street /VeeraSwamy Nagar: Rs 1,980 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 1,760 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)

Stamp duty and registration fee for property in Muthusha Cross Street, Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. Please note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthusha Cross Street, Lord Srinivasa Colony?

The Sub Registrar Office that covers Muthusha Cross Street, Lord Srinivasa Colony 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 details.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value is assessed periodically and reflects the current market conditions in the area.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Muthusha Cross Street?

The current guideline value of Muthusha Cross Street, Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Muthusha Cross Street was Rs 1,206 per sq.ft in 2017 and has increased to Rs 1,980 per sq.ft in 2024, representing a 64% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2023.

What is the median guideline value in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft. Muthusha Cross Street's current value is below this median.

How is stamp duty calculated for properties in Muthusha Cross Street?

Stamp duty for properties in Muthusha Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600.

Where is the Sub Registrar Office for Muthusha Cross Street located?

The Sub Registrar Office for Muthusha Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all property registrations for the area.