Guideline Value for Pugazenthi Street / Muthamzhi Nagar

Pugazenthi Street / Muthamzhi Nagar guideline value

The current guideline value of Pugazenthi 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 falls under the Residential Class I Type - II land classification.

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

The guideline value for Pugazenthi Street / Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline 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 further increased to Rs 360 per sq.ft, a 31% increase from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

In the subsequent revisions, the guideline value rose to Rs 2,250 per sq.ft in 2023, reflecting a substantial 525% increase from the 2007 figure. The latest revision in 2024 has set the value at Rs 2,475 per sq.ft, which is a 10% increase from 2023. 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 have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, placing Pugazenthi Street / Muthamzhi Nagar above this median.

• Pulavar Jeganathan Street / Pasumpon nagar: Rs 1,980 per sq.ft (2024)
• Puddor Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Puspagiri Street: Rs 1,760 per sq.ft (2024)
• Radhakrishnan Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Prashanthi Nagar: Rs 1,870 per sq.ft (2024)
• Ragavan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pugazenthi 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 cost for stamp duty and registration 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pugazenthi Street / Muthamzhi Nagar?

The Pugazenthi Street / Muthamzhi Nagar area is covered by 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 details.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it may influence negotiations and the final sale price. The registration process will require adherence to the guideline value to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Pugazenthi 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 from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923% over the years.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,22,750.

Which Sub Registrar Office covers Pugazenthi Street / Muthamzhi Nagar?

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

What is the land classification for Pugazenthi Street / Muthamzhi Nagar?

Pugazenthi Street / Muthamzhi Nagar falls under the Residential Class I Type - II land classification.