Guideline Value for Muvendar Nagar 2nd Street

Muvendar Nagar 2nd Street guideline value

The current guideline value of Muvendar Nagar 2nd 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 2nd Street has changed

The guideline value for Muvendar Nagar 2nd Street has seen significant revisions over the years. In 2002, the guideline value was Rs 187 per sq.ft. This increased to Rs 212 per sq.ft in 2003, marking a rise of 13%. The value then jumped to Rs 360 per sq.ft in 2007, reflecting a 70% increase. By 2017, the value had further increased to Rs 1,206 per sq.ft, a substantial rise of 235% from the previous revision.

As of the 2024 revision, the guideline value is set at Rs 1,980 per sq.ft, which represents a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 959%. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Muvendar Nagar 2nd Street's 2024 guideline value is below this median.

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

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, resulting in a total of Rs 1,78,200. It is essential to note that the 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Muvendar Nagar 2nd Street?

The Sub Registrar Office that covers Muvendar Nagar 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is not undervalued.

When buying or selling property, the guideline value helps in calculating stamp duty and registration fees, which are mandatory for legal transactions. This ensures transparency and compliance with local regulations during property transfers.

Frequently asked questions

What is the current guideline value of Muvendar Nagar 2nd Street?

The current guideline value of Muvendar Nagar 2nd 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, marking an overall increase of 959% over the years.

What is the land classification for Muvendar Nagar 2nd Street?

Muvendar Nagar 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Muvendar Nagar 2nd Street?

The Sub Registrar Office for Muvendar Nagar 2nd Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Muvendar Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.