Guideline Value for MUNEESWARAN CROSS KULAKARAI STREET

Muneeswaran Cross Kulakarai Street guideline value

The current guideline value of Muneeswaran Cross Kulakarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Muneeswaran Cross Kulakarai Street has changed

The guideline value for Muneeswaran Cross Kulakarai Street has seen significant changes over the years. In 2003, the value was Rs 84 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, but it then dropped to Rs 1,675 per sq.ft in 2017. The value rebounded to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,800 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2003 to 2007, there was an increase of 138%. The value surged by 1150% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 12% rise from 2023 to 2024. The overall increase from 2003 to 2024 is a remarkable 3233%. The register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Muneeswaran Cross Kulakarai Street above this median.

• Muneeswaran Koil Street: Rs 2,800 per sq.ft (2024)
• Mohana Garden: Rs 2,200 per sq.ft (2024)
• Nanjunda Rao Road & Avenue: Rs 4,500 per sq.ft (2024)
• Narayana Nagar: Rs 2,800 per sq.ft (2024)
• Narayana Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Me.Aa.Vaithiyaligam Salai: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muneeswaran Cross Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 Muneeswaran Cross Kulakarai Street?

The Sub Registrar Office that covers Muneeswaran Cross Kulakarai Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller engages in a transaction, the guideline value ensures that the government receives the appropriate revenue from the transaction. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muneeswaran Cross Kulakarai Street?

The current guideline value of Muneeswaran Cross Kulakarai Street is Rs 2,800 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 84 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 3233% over this period.

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,52,000, based on the guideline value of Rs 28,00,000.

Which Sub Registrar Office is responsible for Muneeswaran Cross Kulakarai Street?

The Neelankarai Sub Registrar Office is responsible for Muneeswaran Cross Kulakarai Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Muneeswaran Cross Kulakarai Street?

The land classification for Muneeswaran Cross Kulakarai Street is Residential Class II Type - I.