Guideline Value for THANTHAI PERIYAR NAGAR - Muthumariamman Salai

THANTHAI PERIYAR NAGAR - Muthumariamman Salai guideline value

The current guideline value for THANTHAI PERIYAR NAGAR - Muthumariamman Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of THANTHAI PERIYAR NAGAR - Muthumariamman Salai has changed

The guideline value for THANTHAI PERIYAR NAGAR - Muthumariamman Salai has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 100 per sq.ft. This increased to Rs 111 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 300 per sq.ft in 2007, which was a 170% increase. In 2012, the value was recorded at Rs 2,000 per sq.ft, reflecting a substantial increase of 567%. However, it then dropped to Rs 1,340 per sq.ft in 2017, a decline of 33%. The guideline value further increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 2100%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing THANTHAI PERIYAR NAGAR - Muthumariamman Salai at the median value.

• THANTHAI PERIYAR NAGAR - Nehru Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - M.G.R. Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Palanivel Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Kamarajar Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Rajeev Gandhi Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Jeeva Salai Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in THANTHAI PERIYAR NAGAR - Muthumariamman Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 THANTHAI PERIYAR NAGAR - Muthumariamman Salai?

The THANTHAI PERIYAR NAGAR - Muthumariamman Salai area is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are typically based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for THANTHAI PERIYAR NAGAR - Muthumariamman Salai?

The current guideline value for THANTHAI PERIYAR NAGAR - Muthumariamman Salai is Rs 2,200 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 100 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2100% over the years.

What is the role of the Virugambakkam SRO?

The Virugambakkam Sub Registrar Office is responsible for the registration of property transactions in the area, including THANTHAI PERIYAR NAGAR - Muthumariamman Salai.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with a guideline value of Rs 2,200 per sq.ft include Nehru Salai, M.G.R. Salai, Palanivel Salai, Kamarajar Salai, Rajeev Gandhi Salai, and Jeeva Salai Cross Street.