Guideline Value for Sajja Munusamy 8th lane

Sajja Munusamy 8th lane guideline value

The current guideline value of Sajja Munusamy 8th lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Sajja Munusamy 8th lane has changed

The guideline value for Sajja Munusamy 8th lane has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023 before reaching the current rate of Rs 2,200 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2007 to 2012, there was an increase of 186%. However, from 2012 to 2017, the value decreased by 33%. The most significant increase occurred from 2017 to 2023, with a rise of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, and Sajja Munusamy 8th lane's 2024 figure is above this median.

• Sajja Munusamy 7th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munuswamy Street: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 6th lane: Rs 2,200 per sq.ft (2024)
• Sajja Munusamy 5th lane: 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 8th 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, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sajja Munusamy 8th lane?

The Sajja Munusamy 8th lane falls under 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 is crucial when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps in establishing a fair price for both parties involved in the transaction. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sajja Munusamy 8th lane?

The current guideline value of Sajja Munusamy 8th 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 is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Sajja Munusamy 8th lane's current value being above this median.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this lane?

The Royapuram Sub Registrar Office covers Sajja Munusamy 8th lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.