Guideline Value for Muniyapillai Street

Muniyapillai Street guideline value

The current guideline value of Muniyapillai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Muniyapillai Street has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This figure saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Muniyapillai Street's 2024 figure below this median.

• Muniappan Street: Rs 2,200 per sq.ft (2024)
• Murugan Street: Rs 2,200 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 2,420 per sq.ft (2024)
• Muthurangam Street: Rs 2,200 per sq.ft (2024)
• Muthuthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Nagappa Nagar 1st Cross Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muniyapillai Street

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, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Muniyapillai Street?

The Sub Registrar Office that covers Muniyapillai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that transactions are recorded at a fair value, preventing under-reporting of property prices. Buyers should be aware that the guideline value may influence their overall costs during the purchase process.

Frequently asked questions

What is the current guideline value of Muniyapillai Street?

The current guideline value of Muniyapillai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024.

What is the land classification of Muniyapillai Street?

Muniyapillai Street is classified as Residential Class I Type - II.

Where can I find the registration office for Muniyapillai Street?

The registration office for Muniyapillai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties on Muniyapillai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.