Guideline Value for Munusamy Achari Street

Munusamy Achari Street guideline value

The current guideline value of Munusamy Achari Street is Rs 1,900 per sq.ft. This street is located in Siruvallur village, under the Sembiam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Munusamy Achari Street has changed

The guideline value for Munusamy Achari Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 440 per sq.ft, which increased to Rs 484 per sq.ft in 2003. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, followed by another increase to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The value then rose to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,900 per sq.ft.

The changes between the revisions highlight the fluctuations in the guideline value. From 2002 to 2003, there was a 10% increase. The rise from 2003 to 2007 was 107%, followed by an 80% increase from 2007 to 2012. The value decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a significant rise of 49%, and finally, the value increased by 6% from 2023 to 2024, resulting in an overall increase of 332% from 2002 to 2024.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is the same as the guideline value for Munusamy Achari Street.

• Murugesa Street: Rs 1,900 per sq.ft (2024)
• Masilamani Lane: Rs 1,600 per sq.ft (2024)
• Market Street: Rs 3,900 per sq.ft (2024)
• Market Lane: Rs 1,900 per sq.ft (2024)
• Manicka Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• New Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Achari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munusamy Achari Street?

The Sub Registrar Office that covers Munusamy Achari Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives its due revenue from property transactions.

When registering a property, the guideline value ensures transparency and consistency in the valuation process. It helps in standardizing property transactions, making it easier for both buyers and sellers to understand the financial implications of their deals.

Frequently asked questions

What is the current guideline value of Munusamy Achari Street?

The current guideline value of Munusamy Achari Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 440 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 332% over this period.

What are the stamp duty and registration fees for properties in Munusamy Achari Street?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles registrations for Munusamy Achari Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Munusamy Achari Street.

How is the guideline value determined for properties in Siruvallur?

The guideline value is determined by the Registration Department and reflects the value of properties in the area, which is used for calculating stamp duty and registration fees during property transactions.