Guideline Value for Munuswamy Street

Munuswamy Street guideline value

The current guideline value of Munuswamy Street in Kadaperi village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Munuswamy Street has changed

The guideline value for Munuswamy Street has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in 2012. However, this value decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, which then rose by 10% to the current value of Rs 1,650 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, the changes are notable: from 2007 to 2012, there was a substantial increase of 400%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 450% from 2007 to 2024.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making Munuswamy Street's current value equal to this median.

• Munuswamy Naidu Street: Rs 1,650 per sq.ft (2024)
• Muthtamil Nagar: Rs 1,320 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,320 per sq.ft (2024)
• Mount Street: Rs 1,100 per sq.ft (2024)
• Moulana Nagar 9 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 8 th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Munuswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Munuswamy Street?

The Sub Registrar Office that covers Munuswamy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kadaperi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to consider this value when negotiating prices and for sellers to set realistic expectations regarding their property's worth.

Frequently asked questions

What is the current guideline value of Munuswamy Street?

The current guideline value of Munuswamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450% over this period.

What is the land classification for Munuswamy Street?

Munuswamy Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Munuswamy Street?

The Sub Registrar Office for Munuswamy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kadaperi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at the rate of 7%.