Guideline Value for Munisundaram Street

Munisundaram Street guideline value

The current guideline value of Munisundaram 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 Munisundaram Street has changed

The guideline value for Munisundaram Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 67%. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The following revision in 2023 brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,100 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, 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 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing Munisundaram Street's 2024 figure below that median.

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

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, making a total of 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 Munisundaram Street?

The Sub Registrar Office that covers Munisundaram 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 is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This value is essential for legal documentation and financial planning related to real estate transactions.

Frequently asked questions

What is the current guideline value of Munisundaram Street?

The current guideline value of Munisundaram 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 the years.

What are the stamp duty and registration fees for properties on Munisundaram Street?

For a property of 1,000 sq.ft, the total guideline value is Rs 11,00,000, leading to a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Munisundaram Street located?

The Sub Registrar Office for Munisundaram Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Munisundaram Street?

Munisundaram Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.