Guideline Value for THALAIVAR MUNUSAMY STREET

Thalaivar Munusamy Street guideline value

The current guideline value of Thalaivar Munusamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thalaivar Munusamy Street has changed

The guideline value for Thalaivar Munusamy Street has undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then rose again to the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The changes between the revisions show a 49% increase from 2017 to 2023, while the decrease from 2012 to 2017 was 33%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Thalaivar Munusamy Street's 2024 figure below that median.

• Tank Street: Rs 2,200 per sq.ft (2024)
• S.V.R. Export: Rs 2,200 per sq.ft (2024)
• Sujatha Lane: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,200 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai Right: Rs 1,650 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai Left: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thalaivar Munusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 Thalaivar Munusamy Street?

Thalaivar Munusamy Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. This ensures that the property is registered at a value that reflects its market worth according to the guidelines set by the Registration Department.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thalaivar Munusamy Street?

The current guideline value of Thalaivar Munusamy Street 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Thalaivar Munusamy Street?

Thalaivar Munusamy Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Thalaivar Munusamy Street?

The Sub Registrar Office for Thalaivar Munusamy Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thalaivar Munusamy Street?

Stamp duty for properties in Thalaivar Munusamy Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.