Guideline Value for Muvendar Nagar 4th Street

Muvendar Nagar 4th Street guideline value

The current guideline value of Muvendar Nagar 4th 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 4th Street has changed

The guideline value for Muvendar Nagar 4th Street has seen significant changes 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%. By 2007, the value further increased to Rs 360 per sq.ft, which was a 70% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a substantial increase of 450% from 2007.

Overall, from 2002 to 2024, the guideline value has increased by 959%. It is important to note that there are no figures available for the years 2012, 2017, 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. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Muvendar Nagar 4th Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Muvendar Nagar 4th 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 for stamp duty and registration 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muvendar Nagar 4th Street?

The Muvendar Nagar 4th 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 a crucial factor when registering property transactions in Pammal. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process. The higher of the guideline value or the sale price is considered for these calculations.

When a property is sold, the guideline value helps ensure that the transaction is recorded at an appropriate value, which is essential for tax purposes and maintaining transparency in property dealings. Buyers should be aware of the guideline value to understand the total costs involved in their property transactions.

Frequently asked questions

What is the current guideline value for Muvendar Nagar 4th Street?

The current guideline value for Muvendar Nagar 4th 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, marking an overall increase of 959% over this period.

What is the stamp duty for property in Muvendar Nagar 4th Street?

The stamp duty for property in Muvendar Nagar 4th Street is 7% of the guideline value or 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.

Which office handles property registrations in Pammal?

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

What other streets have the same guideline value in Pammal?

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