Guideline Value for Muktharunnissa Begum 2nd lane

Muktharunnissa Begum 2nd lane guideline value

The current guideline value of Muktharunnissa Begum 2nd 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 Begum 2nd lane has changed

The guideline value for Muktharunnissa Begum 2nd lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,560 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 221%. However, this value decreased to Rs 3,350 per sq.ft in 2017, reflecting a drop of 33%. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by the current rate of Rs 5,500 per sq.ft in 2024, a change of 10%.

Overall, from 2007 to 2024, the guideline value has increased by 253%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a guideline value for 2024, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, indicating that the guideline value for Muktharunnissa Begum 2nd lane is below this median.

• Muktharunnissa 1st 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 Begum 2nd 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, leading to a total 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muktharunnissa Begum 2nd lane?

The Muktharunnissa Begum 2nd 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 information.

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

The guideline value plays a crucial role during the registration of property transactions 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 revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property for both parties involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Muktharunnissa Begum 2nd lane?

The current guideline value of Muktharunnissa Begum 2nd 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, showing an overall increase of 253% over the years.

What is the land classification for Muktharunnissa Begum 2nd lane?

Muktharunnissa Begum 2nd lane is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this lane?

The Sub Registrar Office covering Muktharunnissa Begum 2nd lane is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at the rate of 7%.