Guideline Value for Munusamy Street

Munusamy Street guideline value

The current guideline value of Munusamy Street in Palavanthangal village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Munusamy Street has changed

In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 167%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The guideline value then saw a substantial increase to Rs 4,000 per sq.ft in the 2023 revision, which was a 49% rise. The latest revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figure for Munusamy Street for the years 2002 and 2003.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Munusamy Street's 2024 figure above this median.

• M K N Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• Maraimalai Adigalar Street / Panar Street: Rs 3,300 per sq.ft (2024)
• New Bharathiyar 1st Street: Rs 3,900 per sq.ft (2024)
• New Bharathiyar 2nd Street: Rs 3,900 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Munusamy Street?

The Sub Registrar Office that covers Munusamy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO online.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Munusamy Street?

The current guideline value of Munusamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,500 per sq.ft in 2007, increasing to Rs 4,000 in 2012, dropping to Rs 2,680 in 2017, rising to Rs 4,000 in 2023, and finally reaching Rs 4,400 in 2024.

What is the land classification of Munusamy Street?

Munusamy Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Munusamy Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Munusamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 3,96,000 in fees, including stamp duty and registration fees.