Guideline Value for Kiranar street

Kiranar street guideline value

The current guideline value of Kiranar street is Rs 5,500 per sq.ft. This street is located in Muthialpet village and is classified under Residential Class II Type - I, within the Chennai North Joint I SRO.

How the guideline value of Kiranar street has changed

The guideline value for Kiranar street has undergone several revisions over the years. In 2002, the value was Rs 1,447 per sq.ft, which increased to Rs 1,645 per sq.ft in 2003, marking a change of +14%. The value then rose to Rs 2,000 per sq.ft in 2007, reflecting a +22% increase. By 2012, the value reached Rs 5,000 per sq.ft, showing a significant increase of +150%. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of -33%. The value then increased to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft effective from 1 July 2024, which represents a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +280%. The register has no figure for the years not listed above.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Kiranar street.

• Kondi street: Rs 7,700 per sq.ft (2024)
• Katchaleeswarar Pagoda street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Pagoda lane: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Koil street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Garden street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Agraharam street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kiranar street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kiranar street?

Kiranar street falls under the Chennai North Joint I Sub Registrar Office located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Muthialpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kiranar street?

The current guideline value of Kiranar street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the latest revision being in 2024. Previous revisions occurred in 2023, 2017, 2012, 2007, 2003, and 2002.

What was the guideline value in 2017?

The guideline value for Kiranar street in 2017 was Rs 3,350 per sq.ft.

What is the land classification for Kiranar street?

Kiranar street is classified under Residential Class II Type - I.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Sub Registrar Office covering Kiranar street at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105, or by visiting the find your SRO page.