Guideline Value for Muniyappa Chetty Street

Muniyappa Chetty Street guideline value

The current guideline value of Muniyappa Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Muniyappa Chetty Street has changed

Over the years, the guideline value of Muniyappa Chetty Street has seen several revisions. The earliest available figure is from 2007, when the value was Rs 945 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 429%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a guideline value of Rs 5,500 per sq.ft, which is an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for Muniyappa Chetty Street for the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 482%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that Muniyappa Chetty Street's 2024 figure is below that median.

• Muktharunnissa Street: Rs 7,700 per sq.ft (2024)
• Muktharunnissa Begum 7th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 6th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 5th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 4th lane: Rs 5,500 per sq.ft (2024)
• Muktharunnissa Begum 3rd lane: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Muniyappa Chetty Street?

The Sub Registrar Office that covers Muniyappa Chetty Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Triplicane. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps to establish a fair value for the transaction, which is crucial for both buyers and sellers. It is important to be aware of the 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 482% over the years.

What is the land classification for Muniyappa Chetty Street?

Muniyappa Chetty Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Muniyappa Chetty Street?

The Sub Registrar Office for Muniyappa Chetty Street is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.