Guideline Value for Munuswamy Mesthri Cross Street

Munuswamy Mesthri Cross Street guideline value

The current guideline value of Munuswamy Mesthri Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Munuswamy Mesthri Cross Street has changed

The guideline value for Munuswamy Mesthri Cross Street has seen several revisions over the years. In 2003, the value was Rs 352 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then rose significantly to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 838%. The register does not have a figure for the year 2002 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are a total of 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Munuswamy Mesthri Cross Street.

• Munusamy Street: Rs 3,300 per sq.ft (2024)
• Munuswamy Mesthri Street: Rs 3,300 per sq.ft (2024)
• Munvar Avenue: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 1st Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 2nd Street: Rs 4,950 per sq.ft (2024)
• Munvar Avenue 3rd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Mesthri Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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.

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

Which Sub Registrar Office covers Munuswamy Mesthri Cross Street?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. The guideline value is regularly revised, and staying updated ensures that all parties are informed and compliant with the latest regulations.

Frequently asked questions

What is the current guideline value of Munuswamy Mesthri Cross Street?

The current guideline value of Munuswamy Mesthri Cross Street 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 352 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 838% over the years.

What is the stamp duty rate for property in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How can I calculate the registration fees?

You can calculate the registration fees using the stamp duty and registration fee calculator available online.