Guideline Value for Munusamy Street

Munusamy Street guideline value

The current guideline value of Munusamy Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Munusamy Street has changed

The guideline value for Munusamy Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 168 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2007, marking a rise of 495%. The next revision in 2012 saw the value jump to Rs 3,200 per sq.ft, reflecting a substantial increase of 220% from the previous figure. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, which is a 10% increase from 2012.

It is important to note that the register has no figures for the years 2023, 2017, and 2002 for Munusamy Street. Overall, from 2003 to 2024, the guideline value has increased by 1995%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Munusamy Street's 2024 figure above this median.

• Municipal Road: Rs 3,300 per sq.ft (2024)
• Murugan Koil Street: Rs 2,100 per sq.ft (2024)
• Muneswarar Koil Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Mumurthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Munusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400, bringing the total cost together to Rs 3,16,800. 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?

The Sub Registrar Office that covers Munusamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher value is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Munusamy Street?

The current guideline value of Munusamy Street is Rs 3,520 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 168 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1995% over this period.

What are the stamp duty and registration fees for properties on Munusamy Street?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations for Munusamy Street?

The Pallavaram Sub Registrar Office handles property registrations for Munusamy Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as the minimum value for registration. It is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price.