Guideline Value for Munusamy Nagar

Munusamy Nagar guideline value

The current guideline value of Munusamy Nagar, located in Attanthangal village under the Redhills SRO, is Rs 440 per sq.ft as per the 2024 revision. This area falls under Residential Class III Type - I land classification.

How the guideline value of Munusamy Nagar has changed

Over the years, the guideline value of Munusamy Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 268 per sq.ft, a change of 33%. The guideline value then increased significantly to Rs 400 per sq.ft in 2023, followed by a further increase to Rs 440 per sq.ft in 2024, reflecting a 10% rise.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Munusamy Nagar is below this median.

• Mothi Nagar: Rs 440 per sq.ft (2024)
• M.G.R. Nagar: Rs 440 per sq.ft (2024)
• Mettu Street: Rs 880 per sq.ft (2024)
• Mettu 9th Street: Rs 880 per sq.ft (2024)
• Mettu 8th Street: Rs 880 per sq.ft (2024)
• Mettu 7th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munusamy Nagar?

The Sub Registrar Office covering Munusamy Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property in Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the stamp duty based on the higher of the guideline value or the sale price. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Munusamy Nagar?

The current guideline value of Munusamy Nagar is Rs 440 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty rates for property in Munusamy Nagar?

The stamp duty for property in Munusamy Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Munusamy Nagar?

The Sub Registrar Office for Munusamy Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Munusamy Nagar?

Munusamy Nagar is classified as Residential Class III Type - I under the current land classification scheme.