Guideline Value for Muktharunnissa Begum 3rd lane

Muktharunnissa Begum 3rd lane guideline value

The current guideline value of Muktharunnissa Begum 3rd lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Muktharunnissa Begum 3rd lane has changed

The guideline value for Muktharunnissa Begum 3rd lane has seen 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, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 253%. 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, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in the area is Rs 6,600 per sq.ft, making the current value of Muktharunnissa Begum 3rd lane below this median.

• Muktharunnissa Begum 2nd lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 4th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa 1st 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 3rd 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, bringing the total fees together to 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muktharunnissa Begum 3rd lane?

The Muktharunnissa Begum 3rd lane falls under the jurisdiction of 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 is a crucial factor when buying or selling property in Triplicane. It serves as a benchmark for determining the minimum value at which the property can be registered. This value is essential for calculating the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a price that reflects the current market conditions, thus preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Muktharunnissa Begum 3rd lane?

The current guideline value of Muktharunnissa Begum 3rd 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 a significant increase over the years.

What is the stamp duty rate for property in Muktharunnissa Begum 3rd lane?

The stamp duty rate for property transactions in Muktharunnissa Begum 3rd lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value in Triplicane?

The median guideline value in Triplicane is Rs 6,600 per sq.ft, with Muktharunnissa Begum 3rd lane's value being below this median.