Guideline Value for Muniyappa Chetty Street

Muniyappa Chetty Street guideline value

The current guideline value of Muniyappa Chetty Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Muniyappa Chetty Street has changed

The guideline value for Muniyappa Chetty Street has undergone several revisions over the years. In 2002, the guideline value was Rs 390 per sq.ft, which increased to Rs 423 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,700 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is 592%. The value rose by 8% from 2023 to 2024. Between 2017 and 2023, there was a substantial increase of 49%. The value decreased by 33% from 2012 to 2017, while it saw a remarkable increase of 213% from 2007 to 2012. The increase from 2003 to 2007 was 89%, and a smaller increase of 8% occurred from 2002 to 2003.

Guideline values in Sembiam

Sembiam village has a total of 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the guideline value for Muniyappa Chetty Street equal to this median. Below are other streets in Sembiam with their respective 2024 guideline values:

• Muguntha Ramanujam Street: Rs 3,500 per sq.ft (2024)
• Mugamathiyar Street: Rs 3,500 per sq.ft (2024)
• Murugesan Gramani Street: Rs 2,700 per sq.ft (2024)
• M.E.S. Road: Rs 1,900 per sq.ft (2024)
• Nataraja Koil Street: Rs 2,700 per sq.ft (2024)
• Meersajath Hussain Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Muniyappa Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Muniyappa Chetty Street?

The Sub Registrar Office that covers Muniyappa Chetty Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in the property registration process in Sembiam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Muniyappa Chetty Street?

The current guideline value of Muniyappa Chetty Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 390 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 592% over this period.

What is the stamp duty for properties on Muniyappa Chetty Street?

The stamp duty for properties on Muniyappa Chetty Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Muniyappa Chetty Street?

The Sub Registrar Office for Muniyappa Chetty Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the other streets in Sembiam with their guideline values?

Other streets in Sembiam include Muguntha Ramanujam Street and Mugamathiyar Street, both at Rs 3,500 per sq.ft, and Murugesan Gramani Street, Nataraja Koil Street at Rs 2,700 per sq.ft, among others.