Guideline Value for Narasiman Street /Muthamzhi Nagar

Narasiman Street /Muthamzhi Nagar guideline value

The current guideline value of Narasiman Street /Muthamzhi Nagar is Rs 2,475 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 I Type - II.

How the guideline value of Narasiman Street /Muthamzhi Nagar has changed

The guideline value for Narasiman Street /Muthamzhi Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 242 per sq.ft. This increased to Rs 288 per sq.ft in 2003, marking a 19% rise. The value then rose significantly to Rs 360 per sq.ft in 2007, a 25% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,507 per sq.ft, reflecting a 319% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 923%.

Guideline values in Pammal

Pammal village has a total of 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 Narasiman Street /Muthamzhi Nagar's current value above this median.

• Narasiman Street (Nagal Kenai): Rs 1,980 per sq.ft (2024)
• Narasimman Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nanjilar Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Narayanan Street / Lord Srinivasa Colony: Rs 1,870 per sq.ft (2024)
• Nandanar Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Nammalwar Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Narasiman Street /Muthamzhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees to Rs 2,22,750. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Narasiman Street /Muthamzhi Nagar?

The Sub Registrar Office that covers Narasiman Street /Muthamzhi Nagar 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 a crucial factor when buying or selling property in Pammal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When you approach the registration office, the guideline value ensures that the transaction is recorded accurately and legally. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two amounts.

Frequently asked questions

What is the current guideline value of Narasiman Street /Muthamzhi Nagar?

The current guideline value of Narasiman Street /Muthamzhi Nagar is Rs 2,475 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 242 per sq.ft to Rs 2,475 per sq.ft in 2024, an overall increase of 923%.

What is the stamp duty for property in Narasiman Street /Muthamzhi Nagar?

The stamp duty for property in Narasiman Street /Muthamzhi Nagar is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Narasiman Street /Muthamzhi Nagar located?

The Sub Registrar Office for Narasiman Street /Muthamzhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there any revisions without figures for Narasiman Street /Muthamzhi Nagar?

Yes, the revisions for the years 2012 and 2023 do not have any figures available for Narasiman Street /Muthamzhi Nagar.