Guideline Value for MUNUSAMY NAGAR

Munusamy Nagar guideline value

The current guideline value of Munusamy Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This locality is part of Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Munusamy Nagar has changed

Over the years, the guideline value of Munusamy Nagar has seen several revisions. The 2017 revision recorded a guideline value of Rs 750 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision marked an increase to Rs 830 per sq.ft, reflecting an 11% rise from the previous year.

Looking back further, the register has no figures for the revisions in 2002, 2003, 2007, and 2012. Therefore, the only recorded figures for this street are Rs 750 per sq.ft in 2017, Rs 750 per sq.ft in 2023, and Rs 830 per sq.ft in 2024, indicating an overall increase of 11% from 2017 to 2024.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which aligns with the current value of Munusamy Nagar.

• Murugathamman Nagar: Rs 830 per sq.ft (2024)
• Murugathamman Nagar phase-II: Rs 830 per sq.ft (2024)
• Murugathamman Pettai: Rs 990 per sq.ft (2024)
• M.R.V.Nagar: Rs 830 per sq.ft (2024)
• M.P.R Nagar: Rs 990 per sq.ft (2024)
• Muthu Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty, calculated at 7%, would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that 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 Munusamy Nagar?

The Sub Registrar Office that covers Munusamy Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Munusamy Nagar?

The current guideline value of Munusamy Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2017 to Rs 830 per sq.ft in 2024, reflecting an overall increase of 11% over this period.

What are the stamp duty rates for properties in Munusamy Nagar?

The stamp duty for properties in Munusamy Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Munusamy Nagar located?

The Sub Registrar Office for Munusamy Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Munusamy Nagar?

Munusamy Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.