Guideline Value for Dr.Muniyappa Cross Street

Dr.Muniyappa Cross Street guideline value

The current guideline value of Dr.Muniyappa Cross Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office, and is classified as Commercial Class I Type - I.

How the guideline value of Dr.Muniyappa Cross Street has changed

The guideline value for Dr.Muniyappa Cross Street has experienced several revisions over the years. In 2002, the value was Rs 1,061 per sq.ft, which increased to Rs 1,170 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2007. However, in 2012, it dropped to Rs 8,500 per sq.ft. The value then saw a substantial increase to Rs 5,695 per sq.ft in 2017, before further rising to Rs 8,500 per sq.ft in 2023, and finally reaching the current value of Rs 9,300 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, there was a 10% increase, followed by a 71% increase from 2003 to 2007. The value then jumped by 325% from 2007 to 2012. After a decline of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, placing Dr.Muniyappa Cross Street above this median.

• Dr.Muniyappa Road: Rs 13,400 per sq.ft (2024)
• Dr.NairSalai: Rs 13,400 per sq.ft (2024)
• Dr.Natesa MudaliStreet: Rs 2,800 per sq.ft (2024)
• Driver Street: Rs 7,100 per sq.ft (2024)
• Dr.Gurusamy Mudali Road: Rs 13,400 per sq.ft (2024)
• Dr.Santhosam Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Muniyappa Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 9,300 per sq.ft, the guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, totaling Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.Muniyappa Cross Street?

The Sub Registrar Office that covers Dr.Muniyappa Cross Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value is used to assess the applicable charges. If the sale price is higher than the guideline value, the duty is charged based on the sale price instead.

Frequently asked questions

What is the current guideline value of Dr.Muniyappa Cross Street?

The current guideline value of Dr.Muniyappa Cross Street is Rs 9,300 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 1,061 in 2002 to Rs 9,300 in 2024, with various increases and decreases in between.

What is the land classification of Dr.Muniyappa Cross Street?

Dr.Muniyappa Cross Street is classified as Commercial Class I Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Dr.Muniyappa Cross Street located?

The Sub Registrar Office for Dr.Muniyappa Cross Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.