Guideline Value for Pallavan Street/ Muthamzhi Nagar

Pallavan Street/ Muthamzhi Nagar guideline value

The current guideline value of Pallavan 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 Pallavan Street/ Muthamzhi Nagar has changed

The guideline value for Pallavan Street/ Muthamzhi Nagar has seen significant changes over the years. In 2002, the value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a 13% rise. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 31% increase from the previous revision. The 2017 revision set the value at Rs 1,507 per sq.ft, which was a substantial 319% increase from 2007. The most recent revision in 2024 has further raised the guideline value to Rs 2,475 per sq.ft, an increase of 64% from 2017.

It is important to note that the register has no figures for the years 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 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 Pallavan Street/ Muthamzhi Nagar above this median.

• Pallavan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Palani Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Palaniappan Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Palaniappan Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pammal, Cross Street: Rs 1,980 per sq.ft (2024)
• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan 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 would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees together to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Street/ Muthamzhi Nagar?

The Sub Registrar Office that covers Pallavan Street/ Muthamzhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Pammal. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value helps determine the official value of the property, which in turn affects the fees payable. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

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

The current guideline value of Pallavan Street/ Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 923% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which is lower than the current value of Pallavan Street/ Muthamzhi Nagar.

What are the stamp duty and registration fees for property in Pallavan Street/ Muthamzhi Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 24,75,000, the total fees would amount to Rs 2,22,750.

Where is the Pammal Sub Registrar Office located?

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