Guideline Value for MUNESWARAN KOIL METTU STREET

Muneswaran Koil Mettu Street guideline value

The current guideline value of Muneswaran Koil Mettu Street is Rs 1,080 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class IV Type - III.

How the guideline value of Muneswaran Koil Mettu Street has changed

The guideline value for Muneswaran Koil Mettu Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. In the following years, the value increased to Rs 1,000 per sq.ft in 2023, and subsequently rose to Rs 1,080 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%, moving from Rs 1,000 per sq.ft in 2012 to Rs 1,080 per sq.ft in 2024.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft, with a median value of Rs 1,940 per sq.ft. Muneswaran Koil Mettu Street's 2024 figure is below this median.

• Muneswaran Koil Street: Rs 1,100 per sq.ft (2024)
• Mookaniamman 1 To 11 Streets: Rs 2,200 per sq.ft (2024)
• Mookanaimman Koil Main Road: Rs 2,200 per sq.ft (2024)
• M.G.R.Nagar: Rs 1,100 per sq.ft (2024)
• Mangala Vinayakar Kiol Street: Rs 1,320 per sq.ft (2024)
• Mangala Vinayagar Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Muneswaran Koil Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,080 per sq.ft, the total guideline value amounts to Rs 10,80,000. The stamp duty at 7% would be Rs 75,600, while the registration fee at 2% would be Rs 21,600, bringing the total cost to Rs 97,200. 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 further calculations.

Which Sub Registrar Office covers Muneswaran Koil Mettu Street?

The Sub Registrar Office that covers Muneswaran Koil Mettu 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 Thirusulam

The guideline value is a crucial factor during the registration of property transactions in Thirusulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Muneswaran Koil Mettu Street?

The current guideline value of Muneswaran Koil Mettu Street is Rs 1,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,080 per sq.ft in 2024.

What is the land classification for Muneswaran Koil Mettu Street?

Muneswaran Koil Mettu Street is classified as Residential Class IV Type - III.

Which office handles registrations for properties in Thirusulam?

The Pallavaram Sub Registrar Office handles registrations for properties in Thirusulam, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Thirusulam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 10,80,000, the stamp duty would be Rs 75,600 at 7%.