Guideline Value for Muthuswamy Street / Muthamzhi Nagar

Muthuswamy Street / Muthamzhi Nagar guideline value

The current guideline value of Muthuswamy Street / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Muthuswamy Street / Muthamzhi Nagar has changed

The guideline value for Muthuswamy Street / Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a change of 13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 31% increase. By 2017, the guideline value reached Rs 1,507 per sq.ft, representing a substantial 319% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, which is a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 923%. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a guideline value for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, indicating that Muthuswamy Street / Muthamzhi Nagar's current value is above this median.

• Muthuswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Muthuswamy Street Extn.,: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Muthuswamy Street / Muthamzhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthuswamy Street / Muthamzhi Nagar?

The Sub Registrar Office that covers Muthuswamy Street / Muthamzhi 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 more information.

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

When buying or selling property in Pammal, the guideline value is used as a reference for determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly impact the total costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Muthuswamy Street / Muthamzhi Nagar?

The current guideline value of Muthuswamy Street / Muthamzhi 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 significantly from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, representing an overall increase of 923%.

What is the land classification of Muthuswamy Street / Muthamzhi Nagar?

Muthuswamy Street / Muthamzhi Nagar is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Muthuswamy Street / Muthamzhi Nagar?

The Sub Registrar Office for Muthuswamy Street / Muthamzhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,75,000 would incur a stamp duty of Rs 1,73,250 at a rate of 7%.