Guideline Value for DR. MUNIAPPA ROAD

Dr. Muniappa Road guideline value

The current guideline value of Dr. Muniappa Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Dr. Muniappa Road has changed

The guideline value for Dr. Muniappa Road has seen several revisions over the years. In 2007, the guideline value was Rs 2,800 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012, marking a significant increase of 186%. However, this value dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, followed by the current rate of Rs 8,800 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for the village is Rs 5,500 per sq.ft, making the current guideline value of Dr. Muniappa Road above this median.

• Dr. Azhagappa Chettiar Road: Rs 8,800 per sq.ft (2024)
• Dr. Ambedkar College Rad (Gantz Road): Rs 5,500 per sq.ft (2024)
• East Mada Veedhi: Rs 2,700 per sq.ft (2024)
• Dolly Street: Rs 6,000 per sq.ft (2024)
• Diwan Rama Iyengar Road Lane: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Muniappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Muniappa Road?

The Sub Registrar Office that covers Dr. Muniappa Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Dr. Muniappa Road?

The current guideline value of Dr. Muniappa Road is Rs 8,800 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 2,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 214%.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Dr. Muniappa Road?

The Purasaivakkam Sub Registrar Office covers Dr. Muniappa Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is lower than the current guideline value of Dr. Muniappa Road.