Guideline Value for Mounasami Madam Street

Mounasami Madam Street guideline value

The current guideline value of Mounasami Madam Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mounasami Madam Street has changed

The guideline value for Mounasami Madam Street has undergone several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current figure of Rs 3,800 per sq.ft in 2024.

Between these revisions, notable changes include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 338% increase from 2007 to 2012. The overall change from 2002 to 2024 is a remarkable 905%. There are no figures available for revisions in years other than those listed.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is the same as the current value for Mounasami Madam Street.

• Murugan Nagar 1 to 4 Cross Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4 Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4th Street: Rs 5,500 per sq.ft (2024)
• Murugan Nagar 1 to 4th Street Extension: Rs 5,500 per sq.ft (2024)
• Muthtamil Nagar: Rs 6,000 per sq.ft (2024)
• Masuthi Street Ist and IInd Street, III Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mounasami Madam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration fees would be Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mounasami Madam Street?

The Sub Registrar Office that covers Mounasami Madam Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Konnur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mounasami Madam Street?

The current guideline value of Mounasami Madam Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 905% over the years.

What are the other streets in Konnur and their guideline values?

Other streets in Konnur have varying guideline values. For example, Murugan Nagar streets have a guideline value of Rs 5,500 per sq.ft, while Muthtamil Nagar is at Rs 6,000 per sq.ft.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,42,000.

Which Sub Registrar Office covers Mounasami Madam Street?

The Konnur Sub Registrar Office covers Mounasami Madam Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.