Guideline Value for Sajja Munusamy 7th lane

Sajja Munusamy 7th lane guideline value

The current guideline value of Sajja Munusamy 7th lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sajja Munusamy 7th lane has changed

The guideline value for Sajja Munusamy 7th lane has undergone several revisions over the years. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 186%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The next revision in 2023 saw an increase to Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Sajja Munusamy 7th lane above this median.

• Sajja Munusamy 6th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 8th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 5th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munuswamy Street: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 4th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 3rd lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sajja Munusamy 7th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sajja Munusamy 7th lane?

The Sajja Munusamy 7th lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are fairly assessed and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sajja Munusamy 7th lane?

The current guideline value of Sajja Munusamy 7th lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What are the other streets with the same guideline value?

Other streets in Tondaiarpet, such as Sajja Munusamy 6th lane, Sajja Munusamy 8th lane, Sajja Munusamy 5th lane, Sajja Munuswamy Street, Sajja Munusamy 4th lane, and Sajja Munusamy 3rd lane, all have a guideline value of Rs 2,200 per sq.ft for 2024.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for registering property transactions and maintaining official records. It ensures that all transactions are documented accurately, and the appropriate fees are collected based on the guideline value.

How is stamp duty calculated for properties in Sajja Munusamy 7th lane?

Stamp duty for properties in Sajja Munusamy 7th lane is calculated at 7% of the guideline value or the sale price, whichever is higher. This amount is then added to the registration fee to determine the total cost of registration.