Guideline Value for Munusamy Nagar 4th Street (Ward 23)

Munusamy Nagar 4th Street (Ward 23) guideline value

The current guideline value of Munusamy Nagar 4th 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, and is classified as Residential Class III Type - I.

How the guideline value of Munusamy Nagar 4th Street (Ward 23) has changed

The guideline value for Munusamy Nagar 4th Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, an increase of 8% from the previous year's value of Rs 1,200 per sq.ft established in 2023. Prior to that, the guideline value remained unchanged at Rs 1,200 per sq.ft since the 2012 revision.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Munusamy Nagar 4th Street is below this median.

• Munusamy Nagar 3rd 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 7th Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar Extension (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar 4th 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 amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to 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 more details.

Which Sub Registrar Office covers Munusamy Nagar 4th Street (Ward 23)?

The Sub Registrar Office that covers Munusamy Nagar 4th Street (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the registration fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Munusamy Nagar 4th Street (Ward 23)?

The current guideline value of Munusamy Nagar 4th 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 increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. It remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification of Munusamy Nagar 4th Street?

Munusamy Nagar 4th Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Munusamy Nagar 4th Street (Ward 23) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000.