Guideline Value for Munuswamy Nagar

Munuswamy Nagar guideline value

The current guideline value of Munuswamy Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Munuswamy Nagar has changed

Over the years, the guideline value of Munuswamy Nagar has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, followed by a further increase to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

In summary, the guideline value has changed as follows: from Rs 1,400 in 2012 to Rs 938 in 2017, an increase to Rs 1,400 in 2023, and finally to Rs 1,540 in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is the same as the guideline value for Munuswamy Nagar.

• Nagalingam Nagar: Rs 1,540 per sq.ft (2024)
• Nagammal Nagar: Rs 3,285 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 9th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Munuswamy Nagar?

The Sub Registrar Office that covers Munuswamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Thiruverkadu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure that they are compliant with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Munuswamy Nagar?

The current guideline value of Munuswamy Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,400 to Rs 938 in 2017, then to Rs 1,400 in 2023, and finally to Rs 1,540 in 2024.

What are the stamp duty rates for properties in Munuswamy Nagar?

The stamp duty rate for properties in Munuswamy Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which authority manages the guideline values in Tamil Nadu?

The guideline values in Tamil Nadu are managed by the Registration Department, which maintains the guideline value register.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it through the provided link.