Guideline Value for Munusamy Maistry StreetBharathi Block

Munusamy Maistry StreetBharathi Block guideline value

The current guideline value of Munusamy Maistry StreetBharathi Block is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO) with a land classification of Residential Class IV Type - II.

How the guideline value of Munusamy Maistry StreetBharathi Block has changed

The guideline value for Munusamy Maistry StreetBharathi Block has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 275% from 2007 to 2012, decreased by 33% from 2012 to 2017, then saw a substantial increase of 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a 10% increase. The guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Munusamy Maistry StreetBharathi Block's value below this median.

• Munusamy Street Block 79: Rs 3,300 per sq.ft (2024)
• Munusamy Street Block 94: Rs 3,300 per sq.ft (2024)
• Mullai Street: Rs 3,300 per sq.ft (2024)
• Murasolimaran Street: Rs 3,300 per sq.ft (2024)
• Murthy Street: Rs 6,600 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Maistry StreetBharathi Block

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Munusamy Maistry StreetBharathi Block?

The Sub Registrar Office that covers Munusamy Maistry StreetBharathi Block is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Munusamy Maistry StreetBharathi Block?

The current guideline value of Munusamy Maistry StreetBharathi Block is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 313% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for this street?

The Ashok Nagar Sub Registrar Office handles registrations for Munusamy Maistry StreetBharathi Block, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Munusamy Maistry StreetBharathi Block.