Guideline Value for Muneeswaran Nagar 2nd Street

Muneeswaran Nagar 2nd Street guideline value

The current guideline value of Muneeswaran Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Muneeswaran Nagar 2nd Street has changed

Over the years, the guideline value for Muneeswaran Nagar 2nd Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which then increased to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in the 2017 revision, before rising to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 has brought the guideline value to Rs 1,300 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by an 8% rise from 2023 to 2024. The overall change from 2007 to 2024 shows an increase of 117%. It is worth noting that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Muneeswaran Nagar 2nd Street's 2024 figure below that median.

• Muneewaran Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Muniappa Lane: Rs 1,300 per sq.ft (2024)
• Muniram Pandian Street: Rs 2,200 per sq.ft (2024)
• Murugesan Street: Rs 2,200 per sq.ft (2024)
• Mottai Garden 9th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 8th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Muneeswaran Nagar 2nd Street

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

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Muneeswaran Nagar 2nd Street?

The Muneeswaran Nagar 2nd Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Tondaiarpet, as it helps determine the stamp duty and registration fees payable. When a property is sold or purchased, the guideline value is used as a benchmark to assess the transaction value for registration purposes.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Ensuring compliance with the guideline value helps facilitate a smooth registration process at the Royapuram SRO.

Frequently asked questions

What is the current guideline value of Muneeswaran Nagar 2nd Street?

The current guideline value of Muneeswaran Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 117% over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which authority manages the registration of properties in Muneeswaran Nagar 2nd Street?

The Royapuram Sub Registrar Office manages the registration of properties in Muneeswaran Nagar 2nd Street, located at 535, Tondaiyarpet High Road, Chennai 600021.

What is the significance of the guideline value in property transactions?

The guideline value serves as a reference point for calculating stamp duty and registration fees during property transactions. It ensures that the transaction is registered at a value that reflects the current market conditions.