Guideline Value for Munuswamy Koil Street

Munuswamy Koil Street guideline value

The current guideline value of Munuswamy Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Munuswamy Koil Street has changed

The guideline value for Munuswamy Koil Street has undergone several revisions over the years. In 2003, the guideline value was Rs 171 per sq.ft. This increased to Rs 400 per sq.ft in 2007, a rise of 134%. The value then saw a significant increase to Rs 700 per sq.ft in 2012, marking a 75% rise. However, it decreased to Rs 469 per sq.ft in 2017, a drop of 33%. By 2023, the value had risen again to Rs 700 per sq.ft, and the latest revision in 2024 set it at Rs 770 per sq.ft, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 350%. It is important to note that the register has no figure for Munuswamy Koil Street for the year 2002.

Guideline values in Padiyanallur

Padiyanallur village has 132 streets under the Redhills SRO, with a guideline value range from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the 2024 figure for Munuswamy Koil Street.

• Moovendhar Street: Rs 770 per sq.ft (2024)
• Mondiamman Koil Street: Rs 1,320 per sq.ft (2024)
• Muthu Mari Amman Street: Rs 770 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• Nedunchezhiyan Street: Rs 770 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Munuswamy Koil Street?

The Sub Registrar Office covering Munuswamy Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Munuswamy Koil Street?

The current guideline value of Munuswamy Koil Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 350% over these years.

What is the stamp duty for property in Munuswamy Koil Street?

The stamp duty for property in Munuswamy Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Munuswamy Koil Street located?

The Sub Registrar Office for Munuswamy Koil Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, which is the same as the current guideline value for Munuswamy Koil Street.