Guideline Value for Muvendar Nagar 3rd Street

Muvendar Nagar 3rd Street guideline value

The current guideline value of Muvendar Nagar 3rd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Muvendar Nagar 3rd Street has changed

The guideline value for Muvendar Nagar 3rd Street has seen several revisions 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 significantly to Rs 360 per sq.ft in 2007, reflecting a 70% increase from the previous revision. By 2017, the guideline value reached Rs 1,206 per sq.ft, indicating a substantial 235% increase from 2007.

The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is 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 3rd Street's guideline value of Rs 1,980 per sq.ft is below this median.

• Muvendar Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar: 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 3rd 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, 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muvendar Nagar 3rd Street?

The Sub Registrar Office that covers Muvendar Nagar 3rd Street 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 used as a reference for property transactions in Pammal. When buying or selling property, this value helps determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

During the registration process, the guideline value acts as a baseline for calculating the fees. Buyers must be aware that the stamp duty is charged on either the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muvendar Nagar 3rd Street?

The current guideline value of Muvendar Nagar 3rd 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 changed 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 are the stamp duty and registration fees for property in Muvendar Nagar 3rd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,78,200.

Which Sub Registrar Office covers Muvendar Nagar 3rd Street?

The Pammal Sub Registrar Office covers Muvendar Nagar 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Muvendar Nagar 3rd Street?

Muvendar Nagar 3rd Street falls under the Residential Class II Type - II land classification, indicating its use for residential purposes.