Guideline Value for Munusamy Reddiar Nagar

Munusamy Reddiar Nagar guideline value

The current guideline value of Munusamy Reddiar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Munusamy Reddiar Nagar has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. The 2024 figure aligns with the median value for the 1318 streets in Kodungaiyur, which ranges from Rs 1,900 to Rs 4,000 per sq.ft.

Guideline values in Kodungaiyur

The guideline values in Kodungaiyur vary significantly, with the current range for 2024 being from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for Munusamy Reddiar Nagar. Below are other streets in Kodungaiyur with their respective guideline values:

• Munusamy Reddy Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Munusamy Reddy Colony 1st Main Road: Rs 2,700 per sq.ft (2024)
• Munusamy Reddy Colony 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Munusamy Reddy Colony 2nd Main Road: Rs 2,700 per sq.ft (2024)
• Munusamy Reddy Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Munusamy Reddy Colony 3rd Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Reddiar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munusamy Reddiar Nagar?

The Sub Registrar Office that covers Munusamy Reddiar Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Munusamy Reddiar Nagar?

The current guideline value of Munusamy Reddiar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the land classification for Munusamy Reddiar Nagar?

Munusamy Reddiar Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for properties in Munusamy Reddiar Nagar?

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

Where is the Sub Registrar Office located for Munusamy Reddiar Nagar?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it is responsible for registrations in this area.