Guideline Value for Munuswamy Mesthri Street

Munuswamy Mesthri Street guideline value

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

How the guideline value of Munuswamy Mesthri Street has changed

The guideline value of Munuswamy Mesthri Street has seen significant changes over the years. In 2003, the value was Rs 352 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This was a substantial rise of 70%. The value further surged to Rs 3,000 per sq.ft in 2012, marking a remarkable increase of 400%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 838%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 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 is Rs 3,300 per sq.ft, which is the same as the guideline value for Munuswamy Mesthri Street.

• Munuswamy Mesthri Cross Street: Rs 3,300 per sq.ft (2024)
• Munusamy 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 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, bringing the total to 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munuswamy Mesthri Street?

The Sub Registrar Office that covers Munuswamy Mesthri 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 is a crucial factor in property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When registering a property, the guideline value helps in assessing the official value of the property, which is essential for legal documentation and taxation purposes. This ensures that all transactions are transparent and adhere to the established guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Munuswamy Mesthri Street?

The current guideline value of Munuswamy Mesthri 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 significantly from Rs 352 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 838% over this period.

What is the land classification of Munuswamy Mesthri Street?

Munuswamy Mesthri Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Munuswamy Mesthri Street?

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