Guideline Value for NAMAKKARA MUNIYAN STREET

Namakkara Muniyan Street guideline value

The current guideline value of Namakkara Muniyan Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village under the Thiruvottiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Namakkara Muniyan Street has changed

The guideline value for Namakkara Muniyan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 94 per sq.ft. This increased to Rs 109 per sq.ft in 2003, marking a change of +16%. The value continued to rise significantly, reaching Rs 300 per sq.ft in 2007, which represented an increase of +175%. By 2012, the guideline value was Rs 800 per sq.ft, showing a substantial increase of +167% from the previous revision.

In 2017, the guideline value was revised to Rs 536 per sq.ft, reflecting a decrease of -33% from 2012. The value then increased to Rs 1,000 per sq.ft in 2023, and it remained the same in the 2024 revision, indicating a change of +0%. Overall, from 2002 to 2024, the guideline value has increased by +964%. There are no figures available for revisions in years not listed in the register.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Namakkara Muniyan Street's 2024 figure below that median.

• Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street: Rs 1,300 per sq.ft (2024)
• Manicka Vasagar Street: Rs 1,000 per sq.ft (2024)
• Manickam Street / Manicka Naickar Street: Rs 1,001 per sq.ft (2024)
• Parthasarathy Gramani Street: Rs 1,300 per sq.ft (2024)
• Parthasarathy Street: Rs 1,300 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Namakkara Muniyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the 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 Namakkara Muniyan Street?

The Sub Registrar Office that covers Namakkara Muniyan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chinnasekkadu. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Namakkara Muniyan Street?

The current guideline value of Namakkara Muniyan Street is Rs 1,000 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 94 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of +964% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 90,000 based on the guideline value of Rs 10,00,000.

Which office handles property registrations for Namakkara Muniyan Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Namakkara Muniyan Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Chinnasekkadu?

The median guideline value for streets in Chinnasekkadu is Rs 1,100 per sq.ft, which is higher than the current guideline value of Namakkara Muniyan Street.