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Guideline Value

Corporate

Guideline Value for Muniappa Nagar 7th Main Road

₹2200/sq.ft.

The guideline value for Muniappa Nagar 7th Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹327 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹296 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Muniappa Nagar 7th Main Road

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Muniappa Nagar 7th Main Road guideline value

The current guideline value of Muniappa Nagar 7th Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Muniappa Nagar 7th Main Road has changed

The guideline value for Muniappa Nagar 7th Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 296 per sq.ft. This increased to Rs 327 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, which was a 53% increase. By 2012, the value reached Rs 2,000 per sq.ft, representing a substantial 300% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a final rise to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 643%. There are no figures available for this street in the register for the years not mentioned.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Muniappa Nagar 7th Main Road.

Stamp duty and registration fee for property in Muniappa Nagar 7th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Muniappa Nagar 7th Main Road?

The Muniappa Nagar 7th Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring that all transactions adhere to the legal requirements.

During the registration process, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Muniappa Nagar 7th Main Road?

The current guideline value of Muniappa Nagar 7th Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes from Rs 296 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 643% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles the registration of properties in Muniappa Nagar 7th Main Road?

The registration of properties in Muniappa Nagar 7th Main Road is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Nerkundram?

The guideline value is determined based on various factors including location, land classification, and prevailing market conditions. It is regularly updated to reflect changes in the real estate landscape.