Guideline Value for MUNUSWAMY NAICKAR STREET / SAI NAGAR COLONY / MUNUSWAMY STREET

Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street guideline value

The current guideline value for Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street has changed

The guideline value for Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 130 per sq.ft. This value increased to Rs 164 per sq.ft in 2003, representing a change of +26%. The following revisions saw significant increases, with the value rising to Rs 500 per sq.ft in 2007 (+205%), then to Rs 1,200 per sq.ft in 2012 (+140%). However, it decreased to Rs 804 per sq.ft in 2017, a change of -33%. The value then increased to Rs 1,200 per sq.ft in 2023 (+49%) before reaching the current figure of Rs 1,300 per sq.ft in 2024 (+8%). There are no figures available for the years not mentioned in this register.

Overall, from 2002 to 2024, the guideline value has increased by +900%. This reflects the changes in the property landscape in the area over the years.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the guideline value for Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street above this median.

• Namakkara Muniyan Street: Rs 1,000 per sq.ft (2024)
• Manicka Vasagar Street: Rs 1,000 per sq.ft (2024)
• Manickam Street / Manicka Naickar Street: Rs 1,001 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar / A.S.P. Nagar: Rs 1,001 per sq.ft (2024)
• Parthasarathy Gramani Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, and the registration fee, charged at 2%, would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street?

The Sub Registrar Office that covers Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public domain.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Munuswamy Naickar Street?

The current guideline value for Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street is Rs 1,300 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 130 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of +900% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for this street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Chinnasekkadu?

The median guideline value for streets in Chinnasekkadu is Rs 1,100 per sq.ft, with Munuswamy Naickar Street's current value of Rs 1,300 per sq.ft being above this median.