Guideline Value for Munuswamy Street

Munuswamy Street guideline value

The current guideline value of Munuswamy Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO and is classified as Residential Special Type - III.

How the guideline value of Munuswamy Street has changed

The guideline value for Munuswamy Street has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, reflecting a change of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for Munuswamy Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in 5. Athipattu

Within 5. Athipattu village, there are 119 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for this area is Rs 2,200 per sq.ft, placing Munuswamy Street's 2024 figure above that median.

• Mullai Street: Rs 2,200 per sq.ft (2024)
• Nadesan Nagar: Rs 2,750 per sq.ft (2024)
• Nageswara rao Road: Rs 3,601 per sq.ft (2024)
• M.G.R. Nagar: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 1,600 per sq.ft (2024)
• Narmada Street (ICF Colony): Rs 2,400 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 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor during the registration of property transactions in 5. Athipattu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It is essential for ensuring transparency in property dealings and helps in assessing the fair value of the property being transacted.

Frequently asked questions

What is the current guideline value of Munuswamy Street?

The current guideline value of Munuswamy Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for property in Munuswamy Street?

For a property valued at the current guideline value, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Munuswamy Street?

The Konnur Sub Registrar Office handles registrations for Munuswamy Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures transparency and fairness in property dealings.