Guideline Value for MUNUSAMY NAICKER STREET

Munusamy Naicker Street guideline value

The current guideline value of Munusamy Naicker Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Munusamy Naicker Street has changed

The guideline value for Munusamy Naicker Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 704 per sq.ft in 2003, marking a 15% rise. The value then rose to Rs 850 per sq.ft in 2007, reflecting a 21% increase. Following that, in 2012, the value was revised to Rs 2,500 per sq.ft, showing a significant increase of 194%. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw an increase to Rs 2,500 per sq.ft, which then rose to Rs 2,750 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions in the years not listed, but the overall increase from 2002 to 2024 is 349%. The guideline value has fluctuated significantly, reflecting various economic factors over the years.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Munusamy Naicker Street's 2024 figure is below this median.

• Murahari Street: Rs 2,750 per sq.ft (2024)
• New Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Mani Mudali Street: Rs 2,750 per sq.ft (2024)
• New Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Naicker Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Munusamy Naicker Street?

The Sub Registrar Office that covers Munusamy Naicker Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the guideline value, as it can significantly affect the total cost involved in the transaction. Buyers and sellers should ensure they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Munusamy Naicker Street?

The current guideline value of Munusamy Naicker Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 349% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the guideline value of Rs 27,50,000.

Which Sub Registrar Office covers Munusamy Naicker Street?

The Chennai South Joint I Sub Registrar Office covers Munusamy Naicker Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Munusamy Naicker Street?

The land classification for Munusamy Naicker Street is Residential Class IV Type - III.