Guideline Value for MUNUSAMY STREET

Munusamy Street guideline value

The current guideline value of Munusamy Street in Perungudi village under the Neelankarai SRO is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Munusamy Street has changed

The guideline value for Munusamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 250 per sq.ft. This figure saw a significant increase to Rs 420 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. The value then jumped to Rs 2,500 per sq.ft in 2012, but experienced a decrease to Rs 1,675 per sq.ft in 2017. The value climbed again to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The period between 2012 and 2017 saw a decrease of 33%. The jump from 2007 to 2012 was substantial at 317%, while the increase from 2003 to 2007 was 43%. The value rose by 68% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1020%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Munusamy Street's 2024 figure below this median.

• Nagapillai Avenue: Rs 2,800 per sq.ft (2024)
• M.G.R.Netunchalai South (Veeranam Road South): Rs 7,200 per sq.ft (2024)
• M.G.R.Netunchalai North (Veeranam Road North): Rs 7,200 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Extension: Rs 6,600 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Munusamy Street?

The Sub Registrar Office that covers Munusamy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Munusamy Street?

The current guideline value of Munusamy Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1020% over this period.

What is the land classification for Munusamy Street?

Munusamy Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Munusamy Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Munusamy Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.