Guideline Value for Muthiyappa Gramani street

Muthiyappa Gramani street guideline value

The current guideline value of Muthiyappa Gramani street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Muthiyappa Gramani street has changed

The guideline value for Muthiyappa Gramani street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, it saw a decrease to Rs 4,355 per sq.ft in 2017. Following this, the value rose sharply to Rs 6,500 per sq.ft in 2023, and then to the current value of Rs 7,100 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 represented a decrease of 33%, while the increase from 2007 to 2012 was a substantial 442%. Overall, from 2007 to 2024, the guideline value has seen an increase of 492%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which aligns with the current guideline value of Muthiyappa Gramani street.

• MuthusolaiStreet: Rs 4,900 per sq.ft (2024)
• Nagappa Mudali street: Rs 10,100 per sq.ft (2024)
• Murugesan street: Rs 3,900 per sq.ft (2024)
• Murugesan NaickenStreet: Rs 3,900 per sq.ft (2024)
• Murthy Nagar: Rs 6,300 per sq.ft (2024)
• Murrari Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiyappa Gramani street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. 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 further calculations.

Which Sub Registrar Office covers Muthiyappa Gramani street?

The Sub Registrar Office that covers Muthiyappa Gramani street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Egmore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and fairly in the registration system.

Frequently asked questions

What is the current guideline value of Muthiyappa Gramani street?

The current guideline value of Muthiyappa Gramani street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the land classification of Muthiyappa Gramani street?

Muthiyappa Gramani street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Muthiyappa Gramani street?

The Sub Registrar Office for Muthiyappa Gramani street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Muthiyappa Gramani street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.