Guideline Value for Sengtuavan Street / Muthamazhi Nagar

Sengtuavan Street / Muthamazhi Nagar guideline value

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

The guideline value for Sengtuavan Street / Muthamazhi 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. The value further increased to Rs 360 per sq.ft in 2007, a 31% increase from the previous revision. By 2017, the value had jumped to Rs 1,507 per sq.ft, reflecting a substantial 319% increase. The subsequent revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised the guideline value to Rs 2,475 per sq.ft, which is a 10% increase from 2023. It is important to note that the register has no figure for this street for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Sengtuavan Street / Muthamazhi Nagar above this median.

• Sengtuavan Street /Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Selvaraj Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Selvaraj Street: Rs 1,980 per sq.ft (2024)
• Senthil Nagar/Ramzan Street: Rs 1,980 per sq.ft (2024)
• Sellappa Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Sellappan Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sengtuavan 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 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, making the total cost for these fees Rs 2,22,750. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sengtuavan Street / Muthamazhi Nagar?

The Sub Registrar Office that covers Sengtuavan Street / Muthamazhi 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 further assistance.

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 during the property registration process.

When a buyer or seller approaches the Pammal SRO for registration, the guideline value serves as a benchmark. If the sale price of the property is higher than the guideline value, the duty is charged based on the sale price instead. This ensures that all transactions are recorded accurately and in accordance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Sengtuavan Street / Muthamazhi 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, marking an overall increase of 923% over the years.

What were the guideline values in previous revisions?

The guideline values for previous revisions are as follows: Rs 242 (2002), Rs 274 (2003), Rs 360 (2007), Rs 1,507 (2017), and Rs 2,250 (2023). The register has no figure for the year 2012.

What is the stamp duty for property in Sengtuavan Street / Muthamazhi Nagar?

The stamp duty for property in Sengtuavan Street / Muthamazhi Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,73,250.

Which office handles the registration for Sengtuavan Street / Muthamazhi Nagar?

The Pammal Sub Registrar Office handles the registration for Sengtuavan Street / Muthamazhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.