Guideline Value for Naniappan street

Naniappan street guideline value

The current guideline value of Naniappan street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village under the Chennai North Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Naniappan street has changed

The guideline value for Naniappan street has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in the 2017 revision. The value then rose significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is the same as the current value for Naniappan street.

• Narayanappa street: Rs 7,100 per sq.ft (2024)
• Narayana Sarang gardern 1st lane: Rs 4,900 per sq.ft (2024)
• Narayana Sarang gardern 2nd lane: Rs 4,900 per sq.ft (2024)
• Narayana Sarang gardern street (godown street): Rs 4,900 per sq.ft (2024)
• Muthumari street: Rs 5,500 per sq.ft (2024)
• New Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Naniappan street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Naniappan street?

The Sub Registrar Office that covers Naniappan street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Naniappan street?

The current guideline value of Naniappan 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 for Naniappan street has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 175% over the years.

What is the median guideline value for streets in Muthialpet?

The median guideline value for streets in Muthialpet is Rs 5,500 per sq.ft, which is the same as the current value for Naniappan street.

What are the stamp duty and registration fees for properties in Naniappan street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for Naniappan street?

The Sub Registrar Office for Naniappan street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.