Guideline Value for Muniappa Lane

Muniappa Lane guideline value

The current guideline value of Muniappa Lane in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Muniappa Lane has changed

The guideline value for Muniappa Lane has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft. It increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, by 2017, the value decreased to Rs 804 per sq.ft, reflecting a 33% decline. The subsequent revision in 2023 set the value at Rs 1,200 per sq.ft, followed by an increase to Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 117%.

The register has no figures for Muniappa Lane in the years 2002 and 2003. The changes in the guideline value reflect fluctuations over the years, with significant increases and decreases observed during the specified periods.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, placing Muniappa Lane's 2024 figure below that median.

• Muneewaran Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Muneeswaran Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Muniram Pandian Street: Rs 2,200 per sq.ft (2024)
• Murugesan Street: Rs 2,200 per sq.ft (2024)
• Mottai Garden 9th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 8th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muniappa Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muniappa Lane?

The Sub Registrar Office that covers Muniappa Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the duty is calculated based on the sale price instead. This ensures that the government receives the appropriate fees for property transactions.

Frequently asked questions

What is the current guideline value of Muniappa Lane?

The current guideline value of Muniappa Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the land classification of Muniappa Lane?

Muniappa Lane is classified as Residential Class II Type - I under the guideline value register.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Muniappa Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.