Guideline Value for Kubera Munusamy Street

Kubera Munusamy Street guideline value

The current guideline value of Kubera Munusamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Kubera Munusamy Street has changed

The guideline value for Kubera Munusamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. Following this, a significant rise occurred, with the value reaching Rs 1,000 per sq.ft in 2007. The next revision in 2012 saw a decrease to Rs 2,000 per sq.ft, and then it increased to Rs 1,340 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, leading to the current guideline value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,179%. The register has no figures for the years not mentioned in this summary.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, indicating that Kubera Munusamy Street's 2024 figure is below this median.

• Krishnayar Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kubera Munusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kubera Munusamy Street?

The Sub Registrar Office that covers Kubera Munusamy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It serves as a reference point for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to determine the applicable fees. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kubera Munusamy Street?

The current guideline value of Kubera Munusamy Street 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 increased from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,179% over this period.

What are the other streets in Ullagaram with similar guideline values?

Other streets in Ullagaram, such as Krishnayar Street and various Krishna Nagar streets, have a guideline value of Rs 2,800 per sq.ft in 2024, which is higher than that of Kubera Munusamy Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Kubera Munusamy Street located?

The Sub Registrar Office for Kubera Munusamy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.