Guideline Value for St. Thomas Street / Muthamazhi Nagar

St. Thomas Street / Muthamazhi Nagar guideline value

The current guideline value for St. Thomas 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 St. Thomas Street / Muthamazhi Nagar has changed

The guideline value for St. Thomas 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 rise of 13%. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 31% increase from the previous revision. The most notable change occurred between 2007 and 2017, where the guideline value surged to Rs 1,507 per sq.ft, an increase of 319%. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, a substantial 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 923%. It is important to note that there are no figures available for the years 2012 and 2023 for this street.

Guideline values in Pammal

Pammal village has a total of 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 for these streets is Rs 2,090 per sq.ft, placing St. Thomas Street / Muthamazhi Nagar above this median.

• State Bank Colony (All Streets): Rs 2,750 per sq.ft (2024)
• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (3rd Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (2nd Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (1st Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in St. Thomas 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 charges to Rs 2,22,750. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers St. Thomas Street / Muthamazhi Nagar?

The Sub Registrar Office that covers St. Thomas 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 is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value for St. Thomas Street / Muthamazhi Nagar?

The current guideline value for St. Thomas 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 significantly 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 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.

Which office handles property registration in this area?

The Pammal Sub Registrar Office is responsible for property registration in St. Thomas Street / Muthamazhi Nagar, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for St. Thomas Street / Muthamazhi Nagar?

The land classification for St. Thomas Street / Muthamazhi Nagar is Residential Class I Type - II.