Guideline Value for Munuswamy Street / Thiruvallur Nagar

Munuswamy Street / Thiruvallur Nagar guideline value

The current guideline value of Munuswamy Street / Thiruvallur Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Munuswamy Street / Thiruvallur Nagar has changed

The guideline value for Munuswamy Street / Thiruvallur Nagar has seen significant changes over the years. In 2002, the rate was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. By 2007, the value reached Rs 360 per sq.ft, reflecting a 38% increase from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

From 2007 to 2023, the guideline value surged to Rs 2,250 per sq.ft, representing a remarkable 525% increase. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Munuswamy Street / Thiruvallur Nagar above this median.

• Munuswamy Street (Cho) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street /Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Munuswamy Mestri Street: Rs 1,760 per sq.ft (2024)
• Murdasa Street / Lord Srinivasa Colony: Rs 1,760 per sq.ft (2024)
• Murthy Lane / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Munuadhi Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Street / Thiruvallur Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Munuswamy Street / Thiruvallur Nagar?

The Sub Registrar Office that covers Munuswamy Street / Thiruvallur Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Pammal. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure they comply with legal requirements during property transfers.

When registering a property, the guideline value serves as a benchmark for assessing the transaction value. This ensures that the property is valued appropriately, and the necessary taxes are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Munuswamy Street / Thiruvallur Nagar?

The current guideline value of Munuswamy Street / Thiruvallur Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, which is an overall increase of 976%.

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

For a plot of 1,000 sq.ft at the guideline value of Rs 2,475 per sq.ft, the total guideline value is Rs 24,75,000. The stamp duty would be Rs 1,73,250 and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

Which office handles property registrations for Munuswamy Street / Thiruvallur Nagar?

The Pammal Sub Registrar Office handles property registrations for Munuswamy Street / Thiruvallur Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Pammal?

The guideline value is determined based on various factors, including location and property classification. It is used to assess the stamp duty and registration fees during property transactions in Pammal.