Guideline Value for Vallal Pari Street / Muthamzhi Nagar

Vallal Pari Street / Muthamzhi Nagar guideline value

The current guideline value of Vallal Pari Street / Muthamzhi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Pammal village and falls under the Pammal SRO with a land classification of Residential Class II Type - II.

How the guideline value of Vallal Pari Street / Muthamzhi Nagar has changed

The guideline value for Vallal Pari Street / Muthamzhi Nagar has seen significant changes over the years. Starting from Rs 242 per sq.ft in 2002, it increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 31% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, showing a substantial 235% increase from the previous revision. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 718%.

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 value for these streets is Rs 2,090 per sq.ft, placing the 2024 guideline value of Vallal Pari Street / Muthamzhi Nagar below this median.

• Vallal Pari Street, Muthamiaz Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street, Gandhi Nagar Ext: Rs 1,980 per sq.ft (2024)
• Valliammai Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Valliamman Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Pari Street / Muthamzhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Vallal Pari Street / Muthamzhi Nagar?

The Vallal Pari Street / Muthamzhi Nagar area falls under 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 information.

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

The guideline value is an essential factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the valuation of the property. It is crucial for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set a competitive price based on the current market standards.

Frequently asked questions

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

The current guideline value of Vallal Pari Street / Muthamzhi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 242 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 718% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Vallal Pari Street / Muthamzhi Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in Vallal Pari Street / Muthamzhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, while Vallal Pari Street / Muthamzhi Nagar's 2024 guideline value is below this median at Rs 1,980 per sq.ft.