Guideline Value for Muktharunnissa 1st lane

Muktharunnissa 1st lane guideline value

The current guideline value for Muktharunnissa 1st lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muktharunnissa 1st lane has changed

The guideline value for Muktharunnissa 1st lane has undergone several revisions over the years. In 2007, the value was Rs 1,560 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure then decreased to Rs 3,350 per sq.ft in 2017. The value saw a substantial increase of 49% to reach Rs 5,000 per sq.ft in 2023, before rising again by 10% to the current value of Rs 5,500 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 253%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Muktharunnissa 1st lane's 2024 guideline value is below this median.

• Muktharunnissa Begum 2nd lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 3rd lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 4th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 5th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 6th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 7th lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muktharunnissa 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to 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, resulting in a total cost of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muktharunnissa 1st lane?

The Muktharunnissa 1st lane is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and compliance with regulatory requirements during property transactions.

Frequently asked questions

What is the current guideline value of Muktharunnissa 1st lane?

The current guideline value of Muktharunnissa 1st lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 253% over the years.

What is the stamp duty rate for properties in Muktharunnissa 1st lane?

The stamp duty rate for properties in Muktharunnissa 1st lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Muktharunnissa 1st lane?

The Triplicane Sub Registrar Office handles the registration for Muktharunnissa 1st lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Muktharunnissa 1st lane?

Muktharunnissa 1st lane is classified as Residential Class II Type - I, indicating its designation for residential use within the Triplicane area.