Guideline Value for KANCHEEPURAM MUNUSWAMY MAISTRY STREET

Kancheepuram Munuswamy Maistry Street guideline value

The current guideline value of Kancheepuram Munuswamy Maistry Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kancheepuram Munuswamy Maistry Street has changed

Over the years, the guideline value for Kancheepuram Munuswamy Maistry Street has seen several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which was a significant increase from the previous years where no figures were available for 2002 and 2003. The value then rose dramatically to Rs 5,000 per sq.ft in 2012, marking a 355% increase from 2007. However, in 2017, the value decreased to Rs 3,350 per sq.ft, representing a decline of 33% from the 2012 figure. The value then increased to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 400%. This shows the fluctuations and changes in the guideline value over the years for Kancheepuram Munuswamy Maistry Street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which matches the current value for Kancheepuram Munuswamy Maistry Street. Below are some other streets in Purasaivakkam:

• Kanagammal Lane: Rs 4,400 per sq.ft (2024)
• Kandappa Achary Street: Rs 6,500 per sq.ft (2024)
• Kandappa Gramani Street: Rs 4,900 per sq.ft (2024)
• Kandappa Mudali High Road (A) Thana Street: Rs 9,900 per sq.ft (2024)
• Kandaswamy Koil Street: Rs 6,000 per sq.ft (2024)
• Kannappa Mudali Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kancheepuram Munuswamy Maistry 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, resulting in a total of 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kancheepuram Munuswamy Maistry Street?

The Sub Registrar Office that covers Kancheepuram Munuswamy Maistry Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kancheepuram Munuswamy Maistry Street?

The current guideline value for Kancheepuram Munuswamy Maistry 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 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the land classification for Kancheepuram Munuswamy Maistry Street?

The land classification for Kancheepuram Munuswamy Maistry Street is Residential Class III Type - I, indicating its use for residential purposes.

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

The Purasaivakkam Sub Registrar Office, which covers Kancheepuram Munuswamy Maistry Street, is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Kancheepuram Munuswamy Maistry Street, the guideline value is Rs 5,500 per sq.ft.