Guideline Value for Dharmakartha Murugesan Street

Dharmakartha Murugesan Street guideline value

The current guideline value of Dharmakartha Murugesan Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dharmakartha Murugesan Street has changed

The guideline value for Dharmakartha Murugesan Street has seen several revisions over the years. In 2003, the value was Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007. By 2012, it had risen to Rs 700 per sq.ft, but then dropped to Rs 469 per sq.ft in 2017. The value continued to rise, reaching Rs 700 per sq.ft in 2023, and finally, it stands at Rs 770 per sq.ft as of the 2024 revision. Notably, there is no figure available for this street in the 2002 revision.

Between the revisions, the guideline value increased by 134% from 2003 to 2007, decreased by 33% from 2012 to 2017, and saw a significant rise of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 350% from 2003 to 2024.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Dharmakartha Murugesan Street.

• Devaneya Pavanar Street: Rs 770 per sq.ft (2024)
• Duraisamy Reddiyar Street: Rs 385 per sq.ft (2024)
• Elanchezhian Street: Rs 660 per sq.ft (2024)
• Chinnamman Nagar: Rs 660 per sq.ft (2024)
• Eswaran Koil Street: Rs 660 per sq.ft (2024)
• Eswaran Koil Street Lane: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmakartha Murugesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that stamp 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 Dharmakartha Murugesan Street?

The Sub Registrar Office that covers Dharmakartha Murugesan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Dharmakartha Murugesan Street?

The current guideline value of Dharmakartha Murugesan Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the land classification for Dharmakartha Murugesan Street?

Dharmakartha Murugesan Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Padiyanallur?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.