Guideline Value for Srinivasan Street / Muthamzhi Nagar

Srinivasan Street / Muthamzhi Nagar guideline value

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

The guideline value has undergone several revisions 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 change of +13%. By 2007, the value rose significantly to Rs 360 per sq.ft, a change of +31%. The 2017 revision saw the value jump to Rs 1,507 per sq.ft, reflecting a substantial increase of +319%. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, which is an increase of +64% from 2017.

Overall, from 2002 to 2024, the guideline value has increased by +923%. There are no figures available for the revisions in 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with 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 the guideline value of Srinivasan Street / Muthamzhi Nagar above this median.

• Srinivasan Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Srinivasan Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Srinivasan Cross Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Sri Saraswathi Muthupandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Sridharan Street/ Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• S.S.Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan 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 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, bringing the total cost to Rs 2,22,750. It is important to note that 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 information.

Which Sub Registrar Office covers Srinivasan Street / Muthamzhi Nagar?

The Sub Registrar Office that covers Srinivasan 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 details.

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the registration process.

When purchasing a property, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office will use this value to assess the applicable fees and taxes during the transaction.

Frequently asked questions

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

The current guideline value of Srinivasan 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?

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

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,22,750.

Which Sub Registrar Office covers this street?

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

Are there other streets with similar guideline values in Pammal?

Yes, there are several other streets in Pammal with varying guideline values. For instance, Srinivasan Street, LIC Colony Extn, and Srinivasan Street / LIC Colony both have a guideline value of Rs 2,530 per sq.ft in 2024.