Guideline Value for Muvendar Nagar

Muvendar Nagar guideline value

The current guideline value of Muvendar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - II.

How the guideline value of Muvendar Nagar has changed

The guideline value of Muvendar Nagar has seen several revisions over the years. Starting from Rs 187 per sq.ft in 2002, it 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, which was a 70% increase from the previous revision. By 2017, the value further escalated to Rs 1,206 per sq.ft, reflecting a significant 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 village, there are 926 streets under the Pammal SRO that have 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's 2024 guideline value is below this median.

• 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)
• 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

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, while the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Muvendar Nagar?

Muvendar Nagar is covered by 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 in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are applicable.

During the registration process, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Muvendar Nagar?

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot valued at Rs 1,980 per sq.ft, the total charges would be Rs 1,78,200.

Which Sub Registrar Office covers Muvendar Nagar?

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

What is the land classification for Muvendar Nagar?

The land classification for Muvendar Nagar is Residential Class II Type - II, which indicates its zoning for residential use.