Guideline Value for Munusamy Street

Munusamy Street guideline value

The current guideline value of Munusamy Street in Saligramam village, under the Virugambakkam SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Munusamy Street has changed

The guideline value for Munusamy Street has seen several revisions over the years. In 2002, the value was Rs 1,013 per sq.ft. This figure increased to Rs 1,106 per sq.ft in 2003, marking a 9% rise. By 2007, the value further increased to Rs 1,350 per sq.ft, an increase of 22%. The 2012 revision saw a significant jump to Rs 4,500 per sq.ft, reflecting a 233% increase. However, in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 389%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Munusamy Street's 2024 figure above this median.

• Murugan Street: Rs 3,850 per sq.ft (2024)
• Mullai Street: Rs 3,300 per sq.ft (2024)
• Muthukumaran Street: Rs 7,150 per sq.ft (2024)
• Muthukumarappa Road: Rs 9,900 per sq.ft (2024)
• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Muthuramalinga Street: Rs 5,500 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total costs together to Rs 4,45,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Munusamy Street?

The Sub Registrar Office that covers Munusamy Street 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 Saligramam

The guideline value is a crucial factor in the registration process for property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value impacts the stamp duty and registration fees payable at the time of registration.

When a property is bought or sold, the guideline value ensures that the transaction is recorded accurately and transparently. It helps maintain a standard for property transactions within the area, providing a reference point for both parties involved.

Frequently asked questions

What is the current guideline value of Munusamy Street?

The current guideline value of Munusamy Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,013 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 389% over the years.

What is the median guideline value for streets in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft as of 2024.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Munusamy Street located?

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