Guideline Value for Muktharunnissa Begum 7th lane

Muktharunnissa Begum 7th lane guideline value

The current guideline value of Muktharunnissa Begum 7th 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 7th lane has changed

The guideline value for Muktharunnissa Begum 7th lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,560 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 221%. However, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting an increase of 64% from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 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 Begum 7th lane's current figure of Rs 5,500 per sq.ft is below this median.

• Muktharunnissa Begum 6th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Street: Rs 7,700 per sq.ft (2024)
• Muktharunnissa Begum 5th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 4th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 3rd lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 2nd lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muktharunnissa Begum 7th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while 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.

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

Which Sub Registrar Office covers Muktharunnissa Begum 7th lane?

The Muktharunnissa Begum 7th 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 is a crucial figure used during the registration of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the guideline value helps ensure that the taxes levied are based on a standardized value, which is particularly important for maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Muktharunnissa Begum 7th lane?

The current guideline value of Muktharunnissa Begum 7th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Muktharunnissa Begum 7th lane?

The Triplicane Sub Registrar Office covers Muktharunnissa Begum 7th lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Muktharunnissa Begum 7th lane?

Muktharunnissa Begum 7th lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.