Guideline Value for Thirumalaivasan Street / Muthamazhi Nagar

Thirumalaivasan Street / Muthamazhi Nagar guideline value

The current guideline value for Thirumalaivasan 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 Thirumalaivasan Street / Muthamazhi Nagar has changed

The guideline value for Thirumalaivasan Street / Muthamazhi Nagar has undergone several revisions over the years. Starting from Rs 242 per sq.ft in 2002, it 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, reflecting a +31% increase. The 2017 revision saw a substantial jump to Rs 1,507 per sq.ft, which was a remarkable +319% increase. The guideline value further increased to Rs 2,250 per sq.ft in 2023, a rise of +49%. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, representing a +10% increase from the previous year. Notably, there is no figure available for this street in the 2012 revision.

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 Thirumalaivasan Street / Muthamazhi Nagar above this median.

• Thirumurugan Nagar: Rs 1,980 per sq.ft (2024)
• Thiruneermalai Main Road, Moovendhar Nagar: Rs 2,200 per sq.ft (2024)
• Thiruneermalai Main Road, Nagelkeni: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Main Road, Thiru Nagar: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Salai/LIC Colony Part: Rs 2,530 per sq.ft (2024)
• Thiruneermalai Salai / Nagalkeni: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalaivasan 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 be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, resulting in a total cost of Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thirumalaivasan Street / Muthamazhi Nagar?

The Sub Registrar Office that covers Thirumalaivasan 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 plays a crucial role 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 buying or selling property in the area.

When a property is registered, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. This ensures that the revenue collected through stamp duty and registration fees is aligned with the prevailing market conditions.

Frequently asked questions

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

The current guideline value of Thirumalaivasan 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 was the guideline value in the previous revisions?

The guideline values in previous revisions were Rs 242 in 2002, Rs 274 in 2003, Rs 360 in 2007, Rs 1,507 in 2017, and Rs 2,250 in 2023.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thirumalaivasan Street / Muthamazhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

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. The current stamp duty rate is 7%, and the registration fee is 2% of the guideline value or sale price.