Guideline Value for MUNICIPAL LINE

Municipal Line guideline value

The current guideline value for Municipal Line is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kanchipuram Town village, under the Kanchipuram Joint I SRO, and is classified as Residential Class III Type - III.

How the guideline value of Municipal Line has changed

The guideline value for Municipal Line 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. However, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. Notably, the jump from 2017 to 2023 was +49%, while the value decreased by 33% from 2012 to 2017. The register has no figure for Municipal Line in the revisions of 2002, 2003, and 2007.

Guideline values in Kanchipuram Town

In Kanchipuram Town, there are 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that Municipal Line's 2024 figure is below this median.

• Nagareeswarar Kovil Street: Rs 2,750 per sq.ft (2024)
• Nellukara Street(Or) Annani Indira Gandhi Salai: Rs 5,500 per sq.ft (2024)
• Netteri Road: Rs 1,100 per sq.ft (2024)
• Nimandakara Ottha Vadai Street: Rs 1,650 per sq.ft (2024)
• North Krishnan Street: Rs 1,100 per sq.ft (2024)
• Olimugamadhupettai Road Street (A) Vellore Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Municipal Line

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Municipal Line?

The Sub Registrar Office that covers Municipal Line is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Kanchipuram Town. It serves as a reference point for the valuation of the property, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers and sellers need to be aware of these values to ensure compliance with local regulations and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Municipal Line?

The current guideline value of Municipal Line is Rs 1,100 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 1,100 per sq.ft in 2024.

What is the land classification of Municipal Line?

Municipal Line is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Municipal Line?

The Kanchipuram Joint I Sub Registrar Office covers Municipal Line, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kanchipuram Town?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.