Guideline Value for Muniappa Nagar 4th Cross Street

Muniappa Nagar 4th Cross Street guideline value

The current guideline value of Muniappa Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Muniappa Nagar 4th Cross Street has changed

The guideline value for Muniappa Nagar 4th Cross Street has seen several revisions over the years. In 2002, the value was Rs 296 per sq.ft, which increased to Rs 327 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017, before increasing to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 643%. The revisions for the years 2012 to 2017 reflect a decrease of 33%, while the jump from 2007 to 2012 is notable at 300%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which is equal to the current guideline value of Muniappa Nagar 4th Cross Street.

• Muniappa Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Muniappa Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Muniappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Muniappa Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Muniappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Muniappa Nagar 6th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muniappa Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muniappa Nagar 4th Cross Street?

The Muniappa Nagar 4th Cross Street 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 crucial factor during property registration in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muniappa Nagar 4th Cross Street?

The current guideline value of Muniappa Nagar 4th Cross Street 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 changed from Rs 296 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 643% over the years.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Muniappa Nagar 4th Cross Street?

The Virugambakkam Sub Registrar Office covers Muniappa Nagar 4th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Muniappa Nagar 4th Cross Street?

The land classification for Muniappa Nagar 4th Cross Street is Residential Class IV Type - I.