Guideline Value for MUNUSAMY STREET

Munusamy Street guideline value

The current guideline value of Munusamy Street in Issa Pallavaram village, under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - II.

How the guideline value of Munusamy Street has changed

The guideline value for Munusamy Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%, and the increase from 2023 to 2024 is 10%. Overall, the guideline value has increased by 10% from 2012 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for Munusamy Street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Munusamy Street.

• Munuswamy Mesthri Cross Street: Rs 3,300 per sq.ft (2024)
• Munuswamy Mesthri Street: Rs 3,300 per sq.ft (2024)
• Munvar Avenue: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 1st Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 2nd Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 3rd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munusamy Street?

The Sub Registrar Office that covers Munusamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is used as a benchmark for determining the stamp duty and registration fees when buying or selling property in Issa Pallavaram. It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is registered, the guideline value serves as a reference point for the government to assess the value of the property for taxation purposes. Therefore, understanding the guideline value can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Munusamy Street?

The current guideline value of Munusamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Munusamy Street?

Munusamy Street is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Munusamy Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Munusamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,31,000.