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Guideline Value

Corporate

Guideline Value for Munusamy Road ( Near Prasad Colour Lab)

₹8800/sq.ft.

The guideline value for Munusamy Road ( Near Prasad Colour Lab) in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Commercial Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1450 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹908 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Munusamy Road ( Near Prasad Colour Lab)

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Munusamy Road ( Near Prasad Colour Lab) guideline value

The current guideline value of Munusamy Road ( Near Prasad Colour Lab) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Commercial Special Type - II.

How the guideline value of Munusamy Road ( Near Prasad Colour Lab) has changed

The guideline value for Munusamy Road has seen significant changes over the years. The earliest recorded revision is from 2003, with a guideline value of Rs 908 per sq.ft. This increased to Rs 1,450 per sq.ft in 2007, marking a 60% rise. The value then surged to Rs 8,000 per sq.ft in 2012, reflecting a remarkable increase of 452%. However, it dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 869%. The register does not have a figure for the year 2002 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, positioning Munusamy Road above this median.

Stamp duty and registration fee for property in Munusamy Road ( Near Prasad Colour Lab)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munusamy Road ( Near Prasad Colour Lab)?

The Sub Registrar Office that covers Munusamy Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The authorities use this value to ensure that the transaction is recorded accurately and that the appropriate taxes are collected.

When a property is sold, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the stamp duty, ensuring that the government receives the correct revenue from property transactions. This process helps maintain transparency and fairness in the real estate market.

Frequently asked questions

What is the current guideline value of Munusamy Road ( Near Prasad Colour Lab)?

The current guideline value of Munusamy Road ( Near Prasad Colour Lab) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 908 per sq.ft in 2003 and reaching Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 869% over the years.

What is the land classification of Munusamy Road?

Munusamy Road is classified as Commercial Special Type - II, indicating its suitability for commercial activities.

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

The Sub Registrar Office for Munusamy Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Virugambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct amount is collected during the registration process.