Guideline Value for Munusamy Street Block 79

Munusamy Street Block 79 guideline value

The current guideline value of Munusamy Street Block 79 is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Munusamy Street Block 79 has changed

Over the years, the guideline value for Munusamy Street Block 79 has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the guideline value increased by 275% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023 and saw a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Munusamy Street Block 79's 2024 figure is below that median.

• Munusamy Street Block 94: Rs 3,300 per sq.ft (2024)
• Murasolimaran Street: Rs 3,300 per sq.ft (2024)
• Munusamy Maistry StreetBharathi Block: Rs 3,300 per sq.ft (2024)
• Murthy Street: Rs 6,600 per sq.ft (2024)
• Murthy Street Extension: Rs 6,600 per sq.ft (2024)
• Murugan Store RoadS.No. 349/1 Part: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Street Block 79

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 Street Block 79?

The Sub Registrar Office that covers Munusamy Street Block 79 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Munusamy Street Block 79?

The current guideline value of Munusamy Street Block 79 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313%.

What is the registration office for Munusamy Street Block 79?

The registration office for Munusamy Street Block 79 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors including location and land classification. It is used to calculate the stamp duty and registration fees during property transactions.