Guideline Value for Munirathinam Street 2nd Lane

Munirathinam Street 2nd Lane guideline value

The current guideline value of Munirathinam Street 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Munirathinam Street 2nd Lane has changed

Over the years, the guideline value for Munirathinam Street 2nd Lane has seen several revisions. The earliest recorded figure is from 2007, at Rs 600 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, but then decreased to Rs 670 per sq.ft in 2017. Following this, the guideline value rose significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. The changes between these revisions include a 67% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of Munirathinam Street 2nd Lane is below this median.

• Munirathinam Street 1st Lane: Rs 1,100 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)
• Munirathinam 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munirathinam Street 2nd Lane?

The Sub Registrar Office that covers Munirathinam Street 2nd 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency and accountability in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Munirathinam Street 2nd Lane?

The current guideline value of Munirathinam Street 2nd 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 600 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between, including a notable increase of 49% from 2017 to 2023.

What are the guideline values of other streets in Selaiyur?

Other streets in Selaiyur have varying guideline values, with rates ranging from Rs 850 to Rs 6,500 per sq.ft. For example, Munirathinam Street 1st Lane and Munisundaram Street both have a guideline value of Rs 1,100 per sq.ft in 2024.

What fees are associated with buying property in Munirathinam Street 2nd Lane?

When buying property in Munirathinam Street 2nd Lane, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Munirathinam Street 2nd Lane is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.