Guideline Value for Munusamy Nagar (Ponniamman Medu)

Munusamy Nagar (Ponniamman Medu) guideline value

The current guideline value of Munusamy Nagar (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Munusamy Nagar (Ponniamman Medu) has changed

The guideline value for Munusamy Nagar (Ponniamman Medu) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, representing a significant rise of 62% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which means that the 2024 figure for Munusamy Nagar (Ponniamman Medu) is below this median.

• Munusamy Nagar , Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar Ext , Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar Extension (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 7th Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 6th Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 5th Street (Ward 23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar (Ponniamman Medu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for stamp duty and registration fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Munusamy Nagar (Ponniamman Medu)?

The Sub Registrar Office that covers Munusamy Nagar (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value is set by the Registration Department and can vary from one street to another.

When a property is sold, the guideline value is referenced to calculate the applicable taxes. It is essential for both parties to be informed about the current guideline value to ensure a smooth transaction process during registration.

Frequently asked questions

What is the current guideline value of Munusamy Nagar (Ponniamman Medu)?

The current guideline value of Munusamy Nagar (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then rising to Rs 1,300 per sq.ft in 2024. This represents a decline from 2012 to 2017, followed by an increase from 2017 to 2024.

What is the land classification for Munusamy Nagar (Ponniamman Medu)?

Munusamy Nagar (Ponniamman Medu) is classified as Residential Class III Type - I. This classification is important for understanding the type of development allowed in the area.

Where can I find the Sub Registrar Office for Munusamy Nagar (Ponniamman Medu)?

The Sub Registrar Office for Munusamy Nagar (Ponniamman Medu) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. It is advisable to visit this office for any registration-related queries.

How is the stamp duty calculated for properties in Munusamy Nagar (Ponniamman Medu)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 91,000.