Guideline Value for Munusamy Nagar Extn-III

Munusamy Nagar Extn-III guideline value

The current guideline value of Munusamy Nagar Extn-III is Rs 1,000 per sq.ft as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Munusamy Nagar Extn-III has changed

The guideline value for Munusamy Nagar Extn-III has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 170 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking an increase of 488%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The most recent revision in 2023 has brought the guideline value back up to Rs 1,000 per sq.ft, representing a 49% increase from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 488%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar. Munusamy Nagar Extn-III is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Munusamy Nagar Extn-III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total charges to Rs 90,000. It is crucial to remember that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Munusamy Nagar Extn-III?

The Munusamy Nagar Extn-III area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ponmar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Munusamy Nagar Extn-III?

The current guideline value of Munusamy Nagar Extn-III is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 170 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the stamp duty rate in Munusamy Nagar Extn-III?

The stamp duty rate in Munusamy Nagar Extn-III is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It is used as a reference point for property transactions to calculate applicable duties and fees.