Guideline Value for MUNUSAMY STREET

Munusamy Street guideline value

The current guideline value of Munusamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Munusamy Street has changed

The guideline value for Munusamy Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 416 per sq.ft, which increased to Rs 463 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, reflecting a substantial increase of 548%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which set it at Rs 3,300 per sq.ft, a 10% increase.

Notably, there are no figures available for the revisions in 2007 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 693%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Munusamy Street's 2024 guideline value is below this median.

• Munusamy Nagar: Rs 3,300 per sq.ft (2024)
• Mundakkanni Amman Koil Street: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 5th Lane: Rs 8,200 per sq.ft (2024)
• Mundakkanni Amman Koil 4th Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 3rd Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 2nd Lane: Rs 8,200 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Munusamy Street?

The Sub Registrar Office that covers Munusamy Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mylapore. 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 guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from 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 increased from Rs 416 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 693% over this period.

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

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

Where is the Sub Registrar Office for Munusamy Street located?

The Sub Registrar Office for Munusamy Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, while the guideline value for Munusamy Street is below this median.