Guideline Value for Munikrishna nagar

Munikrishna nagar guideline value

The current guideline value of Munikrishna nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is part of Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Munikrishna nagar has changed

The guideline value for Munikrishna nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has established the current value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a remarkable 567%. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median for these values is Rs 2,200 per sq.ft, which is the same as the current guideline value for Munikrishna nagar.

• Mulla thottam: Rs 2,200 per sq.ft (2024)
• Mudthal board school varai: Rs 2,200 per sq.ft (2024)
• Muthamizh nagar: Rs 2,200 per sq.ft (2024)
• Mohana nagar: Rs 2,200 per sq.ft (2024)
• Mohamed quarters: Rs 2,200 per sq.ft (2024)
• Muthukumaran nagar: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Munikrishna nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Munikrishna nagar?

The Sub Registrar Office that covers Munikrishna nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the sale or purchase of property.

When you buy or sell property in this locality, the guideline value helps ensure that the transaction is documented accurately and that the appropriate taxes are paid. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Munikrishna nagar?

The current guideline value of Munikrishna nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification of Munikrishna nagar?

Munikrishna nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Munikrishna nagar?

The Sub Registrar Office for Munikrishna nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated in Munikrishna nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.