Guideline Value for Muvendar Street

Muvendar Street guideline value

The current guideline value of Muvendar Street in Pammal village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Muvendar Street has changed

The guideline value for Muvendar Street has seen significant changes over the years. In 2002, the guideline value was Rs 146 per sq.ft, which increased to Rs 165 per sq.ft in 2003, marking a rise of 13%. By 2007, the value further increased to Rs 260 per sq.ft, reflecting a 58% change from the previous revision. There are no figures available for the years 2012, 2017, and 2023.

In the 2024 revision, the guideline value rose dramatically to Rs 1,980 per sq.ft, representing a substantial increase of 662% from 2007. Overall, from 2002 to 2024, the guideline value has increased by 1256%, showcasing a significant upward trend in the value of this street.

Guideline values in Pammal

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

• Muvendar Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Muvendar Nagar 2nd 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 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muvendar Street?

The Sub Registrar Office that covers Muvendar 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 further assistance.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a critical factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately for taxation purposes.

Additionally, the guideline value affects the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial implications of their property transaction.

Frequently asked questions

What is the current guideline value of Muvendar Street?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 146 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1256%.

What is the land classification for Muvendar Street?

Muvendar Street is classified as Residential Class II Type - II under the Pammal SRO.

Where is the Sub Registrar Office for Muvendar Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Muvendar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.