Guideline Value for MUNUSAMY REDDY STREET

Munusamy Reddy Street guideline value

The current guideline value of Munusamy Reddy Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO with a land classification of Residential Class II Type - I.

How the guideline value of Munusamy Reddy Street has changed

The guideline value of Munusamy Reddy Street has seen significant changes over the years. In 2002, the guideline value was Rs 350 per sq.ft. This increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value continued to increase, reaching Rs 1,000 per sq.ft in 2007, which was a substantial increase of 148%. The 2012 revision saw a decrease to Rs 4,200 per sq.ft, a drop of 33%. However, it rebounded to Rs 2,814 per sq.ft in 2017, reflecting a 49% increase from the previous figure. The most recent revision in 2023 set the value at Rs 4,200 per sq.ft, and the current figure for 2024 is Rs 4,620 per sq.ft, representing a 10% increase.

There are no figures available for revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1220%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, the guideline values for 190 streets under the Chennai South Joint I SRO range from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is the same as the current guideline value for Munusamy Reddy Street.

• Muthuramalinga Devar Street: Rs 3,520 per sq.ft (2024)
• Muthuramalingam 1st Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalingam 2nd Lane: Rs 3,080 per sq.ft (2024)
• Muvendar Street: Rs 3,520 per sq.ft (2024)
• Nakeeran Street: Rs 3,080 per sq.ft (2024)
• Nandhivarman Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Reddy Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total to Rs 4,15,800. 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 further calculations.

Which Sub Registrar Office covers Munusamy Reddy Street?

The Sub Registrar Office that covers Munusamy Reddy 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 information.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When purchasing property, the guideline value helps establish the official value of the property for taxation purposes. It is essential to refer to the latest guideline value to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Munusamy Reddy Street?

The current guideline value of Munusamy Reddy Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 350 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, representing an overall increase of 1220%.

What is the stamp duty rate for properties in Munusamy Reddy Street?

The stamp duty rate for properties in Munusamy Reddy Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Munusamy Reddy Street?

The Sub Registrar Office for Munusamy Reddy Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the guideline values of other streets in Ekkaduthangal?

Other streets in Ekkaduthangal have varying guideline values, ranging from Rs 3,080 to Rs 8,800 per sq.ft. For example, Muthuramalinga Devar Street is valued at Rs 3,520 per sq.ft in 2024.