Guideline Value for Munirathinam Street 1st Lane

Munirathinam Street 1st Lane guideline value

The current guideline value of Munirathinam Street 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the jurisdiction of the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Munirathinam Street 1st Lane has changed

The guideline value for Munirathinam Street 1st Lane has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Munirathinam Street 1st Lane's 2024 figure below the median.

• Munirathinam Street: Rs 1,100 per sq.ft (2024)
• Munirathinam Street 2nd Lane: Rs 1,100 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)
• Mullai Street: Rs 1,400 per sq.ft (2024)
• Murugesan Nagar: Rs 850 per sq.ft (2024)
• Murugesan Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Munirathinam Street 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Munirathinam Street 1st Lane?

The Sub Registrar Office that covers Munirathinam Street 1st Lane is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It serves as a benchmark for determining the value of a property during the registration process. Buyers and sellers must consider this value as it directly influences the stamp duty and registration fees applicable to the transaction.

When a property is bought or sold, the guideline value is used to calculate the necessary fees. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Munirathinam Street 1st Lane?

The current guideline value of Munirathinam Street 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Munirathinam Street 1st Lane?

Munirathinam Street 1st Lane is classified as Residential Class IV Type - I.

What is the stamp duty for properties in Munirathinam Street 1st Lane?

The stamp duty for properties in Munirathinam Street 1st Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.