Guideline Value for MUNSEEP NARAYANA SWAMY SRTEET

Munseep Narayana Swamy Srteet guideline value

The current guideline value of Munseep Narayana Swamy Srteet is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Munseep Narayana Swamy Srteet has changed

Over the years, the guideline value for Munseep Narayana Swamy Srteet has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision, marking a change of +1150%. However, the value then decreased to Rs 502 per sq.ft in the 2017 revision, reflecting a decline of -33%. The value remained stable at Rs 750 per sq.ft in the 2023 revision and continues at this rate in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by +1150%.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value is Rs 750 per sq.ft, which aligns with the current value of Munseep Narayana Swamy Srteet.

• Mukkiyamman Kovil St: Rs 750 per sq.ft (2024)
• Mukaaniyamman Melandai Srteet: Rs 750 per sq.ft (2024)
• Muhamadiyar Street: Rs 750 per sq.ft (2024)
• Mugammathu Ibrahim Street: Rs 750 per sq.ft (2024)
• Nadesa Iyer Street: Rs 750 per sq.ft (2024)
• Mg Thennamam Bank Extension III: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Munseep Narayana Swamy Srteet

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, while the registration fee at 2% would be Rs 15,000. Therefore, the total cost for stamp duty and registration would be Rs 67,500. It is important to note that 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 Munseep Narayana Swamy Srteet?

The Sub Registrar Office that covers Munseep Narayana Swamy Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Walajabad, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions comply with local regulations.

During the registration process, buyers must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Munseep Narayana Swamy Srteet?

The current guideline value of Munseep Narayana Swamy Srteet is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 60 per sq.ft in 2007, increasing to Rs 750 per sq.ft in 2012, then decreasing to Rs 502 per sq.ft in 2017, and remaining at Rs 750 per sq.ft in 2023 and 2024.

What is the stamp duty for properties in Munseep Narayana Swamy Srteet?

The stamp duty for properties in Munseep Narayana Swamy Srteet is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles all property registrations in the area.

What land classification is Munseep Narayana Swamy Srteet under?

Munseep Narayana Swamy Srteet is classified as Residential Class IV Type - I, indicating its suitability for residential developments.