Guideline Value for Muthuswamy Street / Pasumpon Nagar

Muthuswamy Street / Pasumpon Nagar guideline value

The current guideline value for Muthuswamy Street / Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Muthuswamy Street / Pasumpon Nagar has undergone several revisions over the years. Starting from Rs 200 per sq.ft in 2002, it increased to Rs 226 in 2003, marking a growth of 13%. The value then rose significantly to Rs 360 in 2007, reflecting a 59% increase. By 2017, the guideline value had reached Rs 1,206, which was a substantial 235% increase from the previous revision.

In the latest revision for 2024, the guideline value stands at Rs 1,980 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 890%. It is important to note that there are no figures available for the revisions in 2012 and 2023 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Muthuswamy Street / Pasumpon Nagar's 2024 figure below this median.

• Muthuswamy Street / Muthamzhi Nagar: Rs 2,475 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 / Pasumpon Nagar

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, making the total cost for stamp duty and registration fees Rs 1,78,200. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muthuswamy Street / Pasumpon Nagar?

The Sub Registrar Office that covers Muthuswamy Street / Pasumpon 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

The guideline value is a critical factor in the registration process of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the buying or selling of property.

When registering a property, the guideline value or the sale price, whichever is higher, is used to determine the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at 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.

Which office handles property registrations in Pammal?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles property registrations in Pammal.

Are there other streets in Pammal with different guideline values?

Yes, there are several other streets in Pammal with varying guideline values. For example, Muthuswamy Street / Muthamzhi Nagar has a guideline value of Rs 2,475 per sq.ft as of 2024.