Guideline Value for Kanchi Munuswamy Street VOC Nagar

Kanchi Munuswamy Street VOC Nagar guideline value

The current guideline value of Kanchi Munuswamy Street in VOC Nagar, Pammal village, under the Pammal SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - II.

How the guideline value of Kanchi Munuswamy Street VOC Nagar has changed

The guideline value for Kanchi Munuswamy Street has seen significant changes over the years. In 2002, the guideline value was Rs 201 per sq.ft, which increased to Rs 228 per sq.ft in 2003, marking a 13% rise. The value continued to rise to Rs 360 per sq.ft in 2007, a jump of 58%. By 2017, the value reached Rs 1,675 per sq.ft, reflecting a substantial increase of 365%. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from the previous revision.

The most recent revision in 2024 has established the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from 2023. It is important to note that the register has no figure for Kanchi Munuswamy Street for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft in 2024. The median value for these streets is Rs 2,090 per sq.ft, placing Kanchi Munuswamy Street's 2024 figure above this median.

• Kandaswami Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kanakadass Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Kanakadass Street: Rs 1,760 per sq.ft (2024)
• Kambar Street (V.O.C. Nagar): Rs 2,750 per sq.ft (2024)
• Kambar Street ( Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Kannadasan Street (Easwar Nagar): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Munuswamy Street VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these charges would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanchi Munuswamy Street VOC Nagar?

The Kanchi Munuswamy Street VOC Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

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

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 the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanchi Munuswamy Street VOC Nagar?

The current guideline value of Kanchi Munuswamy Street VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 201 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1268% over the years.

What is the land classification of Kanchi Munuswamy Street VOC Nagar?

Kanchi Munuswamy Street VOC Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Kanchi Munuswamy Street VOC Nagar?

The Pammal Sub Registrar Office covers Kanchi Munuswamy Street VOC Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at a rate of 7% of the guideline value.