Guideline Value for Munusamy Pillai Street (Banu Nagar West)

Munusamy Pillai Street (Banu Nagar West) guideline value

The current guideline value of Munusamy Pillai Street (Banu Nagar West) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Munusamy Pillai Street (Banu Nagar West) has changed

Over the years, the guideline value of Munusamy Pillai Street has seen several revisions. The 2012 revision set the guideline value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft, marking a 10% increase.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with the median value being Rs 2,200 per sq.ft. Munusamy Pillai Street (Banu Nagar West) aligns with this median value.

• Munusamy Pillai Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Munusamy Pillai Street (Pudur): Rs 1,900 per sq.ft (2024)
• Murugesan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Muthall Nagar: Rs 1,400 per sq.ft (2024)
• M.P.C. Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• M.P.C. Street (Venkateswar Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Pillai Street (Banu Nagar West)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee is 2%, amounting to Rs 44,000. Together, the total cost for stamp duty and registration is Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Munusamy Pillai Street (Banu Nagar West)?

The Sub Registrar Office that covers Munusamy Pillai Street (Banu Nagar West) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not sold below a certain value.

When buying or selling property, it is essential to consider the guideline value, as it directly affects the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Munusamy Pillai Street (Banu Nagar West)?

The current guideline value of Munusamy Pillai Street (Banu Nagar West) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 1,340 per sq.ft in 2017, which increased by 49% to Rs 2,000 per sq.ft in 2023.

What is the land classification for Munusamy Pillai Street (Banu Nagar West)?

The land classification for Munusamy Pillai Street (Banu Nagar West) is Residential Special Type - II.

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

The Sub Registrar Office covering Munusamy Pillai Street (Banu Nagar West) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7% and a registration fee of Rs 44,000 at 2%.