Guideline Value for Munusamy Street Block 94

Munusamy Street Block 94 guideline value

The current guideline value of Munusamy Street Block 94 is Rs 3,300 per sq.ft. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Munusamy Street Block 94 has changed

The guideline value for Munusamy Street Block 94 has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has increased it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decline of 33%, while the jump from 2007 to 2012 was substantial at 275%. Overall, there has been a significant increase of 313% from the 2007 revision to the current 2024 figure. The register has no figures for the years 2002 and 2003.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Munusamy Street Block 94's 2024 figure below this median.

• Munusamy Street Block 79: Rs 3,300 per sq.ft (2024)
• Murasolimaran Street: 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)
• Munusamy Maistry StreetBharathi Block: Rs 3,300 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 94

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munusamy Street Block 94?

The Sub Registrar Office that covers Munusamy Street Block 94 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated based on the official value set by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Munusamy Street Block 94?

The current guideline value of Munusamy Street Block 94 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 from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the land classification for Munusamy Street Block 94?

The land classification for Munusamy Street Block 94 is Residential Class IV Type - II, indicating its suitability for residential purposes.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Munusamy Street Block 94?

The Sub Registrar Office for Munusamy Street Block 94 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.