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Guideline Value

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Guideline Value for MUTHAMIZH NAGAR 6th STREET

₹4400/sq.ft.

The guideline value for Muthamizh Nagar 6th Street in Karapakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karapakkam

Village

Neelankarai

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Muthamizh Nagar 6th Street

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MUTHAMIZH NAGAR 6th STREET guideline value

The current guideline value of MUTHAMIZH NAGAR 6th STREET is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - II.

How the guideline value of MUTHAMIZH NAGAR 6th STREET has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This value decreased to Rs 2,680 per sq.ft in the 2017 revision, representing a decline of 33%. Subsequently, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and then rose again to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value, reflecting the changes in the real estate landscape in the area.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. MUTHAMIZH NAGAR 6th STREET's current guideline value is above this median.

Stamp duty and registration fee for property in MUTHAMIZH NAGAR 6th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MUTHAMIZH NAGAR 6th STREET?

The MUTHAMIZH NAGAR 6th STREET falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of MUTHAMIZH NAGAR 6th STREET?

The current guideline value of MUTHAMIZH NAGAR 6th STREET is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. Other significant changes include a drop from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017.

What is the land classification for MUTHAMIZH NAGAR 6th STREET?

MUTHAMIZH NAGAR 6th STREET is classified as Residential Special Type - II, indicating its suitability for residential development.

Which office handles registrations for MUTHAMIZH NAGAR 6th STREET?

The Neelankarai Sub Registrar Office manages registrations for MUTHAMIZH NAGAR 6th STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.