Guideline Value for Munusamy Nagar 3rd Street (Ward 23)

Munusamy Nagar 3rd Street (Ward 23) guideline value

The current guideline value of Munusamy Nagar 3rd Street (Ward 23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Munusamy Nagar 3rd Street (Ward 23) has changed

In the 2012 revision, the guideline value for Munusamy Nagar 3rd Street was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 regarding this street.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram vary significantly, with the 2024 figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, indicating that the guideline value for Munusamy Nagar 3rd Street is below this median.

• Munusamy Nagar 4th Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 2nd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 5th 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 1st Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 7th Street (Ward 23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar 3rd Street (Ward 23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Munusamy Nagar 3rd Street (Ward 23)?

The Sub Registrar Office that covers Munusamy Nagar 3rd Street (Ward 23) 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 is a crucial figure used during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value recognized by the authorities.

When buying or selling property, buyers and sellers must be aware that the guideline value may influence the final sale price and associated costs. It is essential to consult the latest figures to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Munusamy Nagar 3rd Street?

The current guideline value of Munusamy Nagar 3rd Street (Ward 23) 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 an increase of 8% from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. There was no change from 2012 to 2023, with the value remaining at Rs 1,200 per sq.ft.

What is the land classification for Munusamy Nagar 3rd Street?

Munusamy Nagar 3rd Street is classified as Residential Class III Type - I under the Madhavaram SRO.

How is stamp duty calculated for properties in Munusamy Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

Which office handles registrations for Munusamy Nagar 3rd Street?

The Madhavaram Sub Registrar Office handles registrations for Munusamy Nagar 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.