Guideline Value for Munusamy Lane

Munusamy Lane guideline value

The current guideline value of Munusamy Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO with a land classification of Residential Class II Type - III.

How the guideline value of Munusamy Lane has changed

The guideline value of Munusamy Lane has undergone several revisions over the years. In 2002, the guideline value was Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, which was a 51% increase. Following that, the value surged to Rs 4,500 per sq.ft in 2012, reflecting a notable 350% increase. However, from 2012 to 2017, the guideline value decreased to Rs 3,015 per sq.ft, which was a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Munusamy Lane's 2024 figure below that median.

• Muniya PillaiSTreet: Rs 7,100 per sq.ft (2024)
• Murrari Avenue: Rs 13,400 per sq.ft (2024)
• Murthy Nagar: Rs 6,300 per sq.ft (2024)
• Muktha Garden: Rs 13,400 per sq.ft (2024)
• Murugesan NaickenStreet: Rs 3,900 per sq.ft (2024)
• Murugesan street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. 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 Lane?

The Sub Registrar Office that covers Munusamy Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Egmore. It is the basis for calculating the stamp duty and registration fees when buying or selling property. Buyers and sellers must refer to the current guideline value to determine the financial obligations associated with the transaction.

When a property is registered, the guideline value is used to ensure that the transaction is recorded accurately. This value helps in maintaining transparency in the real estate market and ensures that the appropriate taxes are levied based on the property's worth as determined by the government.

Frequently asked questions

What is the current guideline value of Munusamy Lane?

The current guideline value of Munusamy Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 601 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 715% over the years.

What is the stamp duty for a property in Munusamy Lane?

The stamp duty for a property in Munusamy Lane is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 3,43,000.

Where can I find the Sub Registrar Office for Munusamy Lane?

The Sub Registrar Office for Munusamy Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Munusamy Lane?

Munusamy Lane is classified as Residential Class II Type - III under the land classification system.