Guideline Value for Thakerar Street/Muthamzhi Nagar

Thakerar Street/Muthamzhi Nagar guideline value

The current guideline value of Thakerar Street/Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal SRO. The land classification for this street is Residential Class I Type - II.

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

The guideline value for Thakerar Street/Muthamzhi Nagar has undergone several revisions 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 change of 13%. By 2007, the value rose to Rs 360 per sq.ft, reflecting a 31% increase from the previous revision. The most significant change occurred between 2007 and 2024, where the guideline value surged to Rs 2,475 per sq.ft, a remarkable increase of 588%. 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 revisions in 2012, 2017, and 2023 for this street.

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 for these streets is Rs 2,090 per sq.ft, placing Thakerar Street/Muthamzhi Nagar above this median value.

• Thandai Periyar 1st Cross Street /Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar 2nd Cross Street /Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar 3rd Cross Street /Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Nagar (All Streets): Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Thandai Periyar Street / LIC Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Thakerar 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, calculated at 7%, would be Rs 1,73,250, and the registration fee, at 2%, would be Rs 49,500. Therefore, the total cost for stamp duty and registration would be 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 Thakerar Street/Muthamzhi Nagar?

The Sub Registrar Office that covers Thakerar 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 the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that all property transactions are fairly assessed and taxed accordingly.

Frequently asked questions

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

The current guideline value of Thakerar 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?

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

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

The land classification for Thakerar Street/Muthamzhi Nagar is Residential Class I Type - II.

Where can I find the Sub Registrar Office for Thakerar Street/Muthamzhi Nagar?

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

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,75,000 would incur a stamp duty of Rs 1,73,250 at 7%.