Guideline Value for MUNUSWAMY MUDALIAR STREET / MUNUSWAMY STREET

Munuswamy Mudaliar Street / Munuswamy Street guideline value

The current guideline value for Munuswamy Mudaliar Street / Munuswamy Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of Munuswamy Mudaliar Street / Munuswamy Street has changed

The guideline value for Munuswamy Mudaliar Street has seen several revisions over the years. Starting from Rs 85 per sq.ft in 2002, it increased to Rs 103 per sq.ft in 2003, marking a 21% rise. The value continued to rise significantly, reaching Rs 200 per sq.ft in 2007, which was a 94% increase from the previous year. In 2012, the value was recorded at Rs 1,100 per sq.ft, reflecting a substantial 450% increase from 2007. However, it dropped to Rs 737 per sq.ft in 2017, a decrease of 33% from the 2012 figure. The value then rose to Rs 1,100 per sq.ft in 2023, which was a 49% increase from 2017, and finally reached Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

It is important to note that the register has no figure for this street for the years not mentioned above. The overall change from 2002 to 2024 is a remarkable increase of 1312%.

Guideline values in Manali

In Manali, there are 84 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft, with the median value being Rs 1,200 per sq.ft. Munuswamy Mudaliar Street / Munuswamy Street's 2024 guideline value aligns with this median.

• Mulapuram Road (Barathiar Street): Rs 1,200 per sq.ft (2024)
• M.P.S. Street: Rs 1,200 per sq.ft (2024)
• Muthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• Mu. Varadharajan Street: Rs 1,200 per sq.ft (2024)
• M.G.R. Street: Rs 1,200 per sq.ft (2024)
• Neduncomhezhiyan Road: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Mudaliar Street / Munuswamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munuswamy Mudaliar Street / Munuswamy Street?

The Sub Registrar Office that covers Munuswamy Mudaliar Street / Munuswamy Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Manali. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to assess the appropriate fees, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Munuswamy Mudaliar Street?

The current guideline value for Munuswamy Mudaliar Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 85 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1312%.

What is the classification of land on Munuswamy Mudaliar Street?

The land classification for Munuswamy Mudaliar Street is Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,08,000.