Guideline Value for MUNAVAR AVENUE (4 & 5TH STREET)

Munavar Avenue (4 & 5th Street) guideline value

The current guideline value of Munavar Avenue (4 & 5th Street) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and falls under the Mixed Type - I land classification.

How the guideline value of Munavar Avenue (4 & 5th Street) has changed

The guideline value for Munavar Avenue (4 & 5th Street) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 4,500 per sq.ft, which later decreased to Rs 3,015 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 4,500 per sq.ft in the 2023 revision, and further increased to Rs 4,950 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Issa Pallavaram

Issa Pallavaram has a total of 110 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, which means that Munavar Avenue (4 & 5th Street) is above this median value.

• Munusamy Street: Rs 3,300 per sq.ft (2024)
• Munuswamy Mesthri Cross Street: Rs 3,300 per sq.ft (2024)
• Munuswamy Mesthri Street: Rs 3,300 per sq.ft (2024)
• Munvar Avenue: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 1st Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 2nd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Munavar Avenue (4 & 5th Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost for these fees Rs 4,45,500. 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 Munavar Avenue (4 & 5th Street)?

The Sub Registrar Office that covers Munavar Avenue (4 & 5th Street) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should 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 Munavar Avenue (4 & 5th Street)?

The current guideline value of Munavar Avenue (4 & 5th Street) is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024.

What is the land classification for Munavar Avenue (4 & 5th Street)?

Munavar Avenue (4 & 5th Street) falls under the Mixed Type - I land classification.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles the registration for Munavar Avenue (4 & 5th Street)?

The Pallavaram Sub Registrar Office handles the registration for Munavar Avenue (4 & 5th Street), located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.