Guideline Value for Munuswamy Street /Veeraswamy Nagar

Munuswamy Street /Veeraswamy Nagar guideline value

The current guideline value of Munuswamy Street /Veeraswamy Nagar is Rs 1,980 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 II Type - II.

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

The guideline value for Munuswamy Street /Veeraswamy Nagar has seen significant changes over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a rise of 13%. By 2007, the value reached Rs 360 per sq.ft, reflecting a 73% increase from the previous revision. The next notable revision occurred in 2023, where the guideline value surged to Rs 1,800 per sq.ft, a substantial increase of 400% from 2007. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase of 10% from 2023.

The register does not provide figures for the revisions in 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, positioning Munuswamy Street /Veeraswamy Nagar below this median value.

• Munuswamy Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Munuswamy Street (Cho) / Muthamzhi Nagar: Rs 2,475 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 /Veeraswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Munuswamy Street /Veeraswamy Nagar?

The Sub Registrar Office that covers Munuswamy Street /Veeraswamy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable charges. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

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

The current guideline value of Munuswamy Street /Veeraswamy Nagar is Rs 1,980 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 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 976% over the years.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

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

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

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which means Munuswamy Street /Veeraswamy Nagar's current value is below this median.