Guideline Value for Munirathinam Street

Munirathinam Street guideline value

The current guideline value of Munirathinam Street 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 has changed

Over the years, the guideline value of Munirathinam Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, the 2017 revision marked a decrease to Rs 670 per sq.ft, before rising to Rs 1,000 per sq.ft in 2023. The current 2024 revision reflects a further increase to Rs 1,100 per sq.ft.

In terms of percentage changes, the guideline value increased by 67% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 83%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that Munirathinam Street's current value is below this median.

• Munirathinam Street 1st Lane: 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

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, making the total charges Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munirathinam Street?

The Sub Registrar Office covering Munirathinam Street 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 plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Munirathinam Street?

The current guideline value of Munirathinam Street 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, reflecting an overall increase of 83% over this period.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Munirathinam Street.

What are the stamp duty and registration fees for a property on Munirathinam Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Munirathinam Street 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.