Guideline Value for Muvendar Nagar 1st Street

Muvendar Nagar 1st Street guideline value

The current guideline value of Muvendar Nagar 1st Street is Rs 1,980 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 II Type - II.

How the guideline value of Muvendar Nagar 1st Street has changed

The guideline value for Muvendar Nagar 1st Street has experienced significant changes over the years. In 2002, the value was Rs 187 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 70% increase from the previous revision. By 2017, the guideline value had further increased to Rs 1,206 per sq.ft, representing a substantial 235% increase from 2007. The most recent revision in 2024 saw the value reach Rs 1,980 per sq.ft, which is a 64% increase from the 2017 figure.

There are no figures available for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 959%.

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 in the village is Rs 2,090 per sq.ft, placing Muvendar Nagar 1st Street's value below this median.

• Muvendar Nagar: 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)
• Muvendar Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Muvendar Street: Rs 1,980 per sq.ft (2024)
• Muthuswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Muvendar Nagar 1st Street

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, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muvendar Nagar 1st Street?

The Muvendar Nagar 1st Street falls under the jurisdiction of 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 an important factor when registering a property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers need to be aware of these values to understand their financial obligations during the property registration process.

Frequently asked questions

What is the current guideline value of Muvendar Nagar 1st Street?

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

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 187 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 959% over the years.

What is the registration office for Muvendar Nagar 1st Street?

The registration office covering Muvendar Nagar 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on 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 at the rate of 7%.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal that share the same guideline value of Rs 1,980 per sq.ft include Muvendar Nagar, Muvendar Nagar 2nd Street, Muvendar Nagar 3rd Street, Muvendar Nagar 4th Street, Muvendar Street, and Muthuswamy Street / Pasumpon Nagar.