Guideline Value for MUNIRATHINAM STREET

Munirathinam Street guideline value

The current guideline value of Munirathinam Street, located in Arumbakkam village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Munirathinam Street has changed

Over the years, the guideline value of Munirathinam Street has seen significant changes. In the 2007 revision, the value was Rs 700 per sq.ft. This increased dramatically to Rs 4,000 per sq.ft in the 2012 revision, marking a 471% rise. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, which was a 33% drop. The 2023 revision saw the value rise again to Rs 4,000 per sq.ft, and in the latest 2024 revision, it has increased further to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Munirathinam Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Rs 4,400 per sq.ft for Munirathinam Street is below this median.

• Muralidharan Street (New Rangarajapuram): Rs 6,000 per sq.ft (2024)
• Muthatchiamman Koil Street: Rs 3,300 per sq.ft (2024)
• MMDA P Block M.G.R. Street (or) M.G.R.Main Road: Rs 6,000 per sq.ft (2024)
• MMDA P – Block M.G.R 5th Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 3rd Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 2nd Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Munirathinam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munirathinam Street?

The Sub Registrar Office that covers Munirathinam Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. 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 helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Munirathinam Street?

The current guideline value of Munirathinam Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the land classification for Munirathinam Street?

Munirathinam Street falls under the Residential Class IV Type - II land classification.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Munirathinam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.