Guideline Value for Parsuraman Street / Muthamazhi Nagar

Parsuraman Street / Muthamazhi Nagar guideline value

The current guideline value of Parsuraman Street / Muthamazhi 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 Parsuraman Street / Muthamazhi Nagar has changed

The guideline value 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 jumped to Rs 360 per sq.ft, reflecting a 31% increase. The 2017 revision recorded a substantial increase to Rs 1,507 per sq.ft, representing a 319% rise from 2007. In 2023, the guideline value further increased to Rs 2,250 per sq.ft, showing a 49% rise from 2017. The latest revision in 2024 set the value at Rs 2,475 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 923%.

Guideline values in Pammal

In Pammal, there are 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 in this area is Rs 2,090 per sq.ft, placing the 2024 figure for Parsuraman Street / Muthamazhi Nagar above this median.

• Parthasarathy Nagar / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Parasuraman Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Parvathi Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pasumbon Nagar Vallalar Street Links Nagalingam Street: Rs 2,750 per sq.ft (2024)
• Pasumpon Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Parsuraman Street / Muthamazhi 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 to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parsuraman Street / Muthamazhi Nagar?

The Sub Registrar Office that covers Parsuraman Street / Muthamazhi 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Parsuraman Street / Muthamazhi Nagar?

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

How much has the guideline value changed since 2002?

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

What was the guideline value in 2017?

The guideline value of Parsuraman Street / Muthamazhi Nagar in 2017 was Rs 1,507 per sq.ft.

Is there a guideline value for 2012?

The register has no figure for this street in 2012.

Where is the Sub Registrar Office for this area located?

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