Guideline Value for MUNUSAMY ST

Munusamy St guideline value

The current guideline value of Munusamy St in Mitnamalle village, under the Avadi SRO, is Rs 804 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Munusamy St has changed

The guideline value for Munusamy St has seen several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. However, the value increased significantly to Rs 400 per sq.ft in 2023, and then rose sharply to Rs 804 per sq.ft in 2024, marking a 101% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 101%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value of Munusamy St is above this median.

• M.R.Radha Nagar 2nd Street: Rs 802 per sq.ft (2024)
• M.R.Radha Nagar 1st Street: Rs 802 per sq.ft (2024)
• M.R.Radha Nagar: Rs 802 per sq.ft (2024)
• Mittnamilli Colony: Rs 804 per sq.ft (2024)
• Main Road: Rs 802 per sq.ft (2024)
• Palavedu Main Road (Commercial Area): Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy St

For a 1,000 sq.ft plot at the current guideline value of Rs 804 per sq.ft, the total guideline value would be Rs 8,04,000. The stamp duty at 7% would amount to Rs 56,280, and the registration fee at 2% would be Rs 16,080, bringing the total charges to Rs 72,360. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Munusamy St?

The Sub Registrar Office that covers Munusamy St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mitnamalle, as it determines the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price of the property.

When registering a property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions set by the Registration Department. This helps in maintaining transparency in property transactions and ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Munusamy St?

The current guideline value of Munusamy St is Rs 804 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 804 per sq.ft in 2024.

What is the land classification for Munusamy St?

Munusamy St is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Munusamy St?

The Sub Registrar Office for Munusamy St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the transaction reflects the current market conditions as set by the Registration Department.