Guideline Value for MUNIAPPA NAICKEN STREET

Muniappa Naicken Street guideline value

The current guideline value of Muniappa Naicken Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Muniappa Naicken Street has changed

The guideline value for Muniappa Naicken Street has seen several revisions over the years. In 2003, the value was Rs 520 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then rose significantly to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then increased to Rs 3,200 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, the value saw a notable increase of 49%. The 2012 to 2017 period experienced a decrease of 33%, while the 2007 to 2012 period saw a remarkable increase of 445%. The overall increase from 2003 to 2024 is 515%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Muniappa Naicken Street's guideline value is above this median.

• MULLAI COLONY (MKB Nagar): Rs 4,300 per sq.ft (2024)
• MURTHY NAGAR 1st LANE: Rs 3,200 per sq.ft (2024)
• MURTHY NAGAR LANE 2nd STREET: Rs 3,200 per sq.ft (2024)
• Murthy Nagar Street: Rs 3,200 per sq.ft (2024)
• Moorthinga Iyer Street (Murthinga Iyer Main Road To Erukkanchery): Rs 4,900 per sq.ft (2024)
• Moorthinga Iyer Street Lane: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muniappa Naicken Street

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Muniappa Naicken Street?

The Sub Registrar Office that covers Muniappa Naicken Street 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 Perambur

The guideline value plays a crucial role in the registration process of property transactions in Perambur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The higher the guideline value, the more significant the financial implications for both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Muniappa Naicken Street?

The current guideline value of Muniappa Naicken Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 520 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, showing an overall increase of 515% over this period.

What is the land classification for Muniappa Naicken Street?

The land classification for Muniappa Naicken Street is Residential Class III Type - I, indicating its use for residential purposes.

Where is the Sub Registrar Office for Muniappa Naicken Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Muniappa Naicken Street.

How is the stamp duty calculated for properties in Muniappa Naicken Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 2,88,000 in stamp duty and registration fees.