Guideline Value for Pandian Street/ Muthamzhi Nagar

Pandian Street/ Muthamzhi Nagar guideline value

The current guideline value of Pandian Street/ Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

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

The guideline value for Pandian 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 saw a substantial increase to Rs 1,507 per sq.ft, which was a 319% rise from 2007. The value further increased to Rs 2,250 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 2,475 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision 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 with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing the 2024 guideline value of Pandian Street/ Muthamzhi Nagar above the median.

• Pandian Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Panchayat Colony / Thiruneermalai Main Road: Rs 1,870 per sq.ft (2024)
• Paneerselvam Salai: Rs 1,760 per sq.ft (2024)
• Pammal Nalathambi Salai: Rs 2,750 per sq.ft (2024)
• Pammal Main Road, Pasumpon Nagar: Rs 3,300 per sq.ft (2024)
• Pammal Main Road, Dr. Ambedhkar Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pandian 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, making the total cost for these fees 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 details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pandian Street/ Muthamzhi Nagar?

The Sub Registrar Office that covers Pandian 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 in the registration process when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial obligations involved.

When a property is sold, the guideline value serves as a benchmark for tax purposes. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Pandian 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?

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

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, with Pandian Street/ Muthamzhi Nagar's value being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250 and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

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

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