Guideline Value for Munusamy Nagar Extension (Ponniamman Medu)

Munusamy Nagar Extension (Ponniamman Medu) guideline value

The current guideline value for Munusamy Nagar Extension (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I. The guideline value is crucial for property transactions in this locality.

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

The guideline value for Munusamy Nagar Extension (Ponniamman Medu) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, the guideline value has increased by 8% from the 2012 figure to the current 2024 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which indicates that the current value for Munusamy Nagar Extension (Ponniamman Medu) is below the median.

• Munusamy Nagar 7th Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar Ext, Ponniammanmedu (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)
• Munusamy Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Munusamy Nagar 4th Street (Ward 23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar Extension (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, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these charges 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.

For more information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value serves as a reference point for property transactions in Madhavaram. When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value as it impacts the overall cost of the transaction, including taxes and fees that are calculated based on this value.

Frequently asked questions

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

The current guideline value for Munusamy Nagar Extension (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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

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

Munusamy Nagar Extension (Ponniamman Medu) is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Madhavaram Sub Registrar Office, which covers Munusamy Nagar Extension (Ponniamman Medu), is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.