Guideline Value for GIRIGORI NAGAR MURUGATHAMMAN KOIL STREET

Girigori Nagar Murugathamman Koil Street guideline value

The current guideline value of Girigori Nagar Murugathamman Koil Street is Rs 2,530 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 II Type - I.

How the guideline value of Girigori Nagar Murugathamman Koil Street has changed

The guideline value for Girigori Nagar Murugathamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest revision in 2024 has set it at Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes between revisions, from 2012 to 2017, there was a decrease of 33%. However, the value saw a significant increase of 49% from 2017 to 2023. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

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 value for these streets is Rs 2,530 per sq.ft, which is the same as the guideline value for Girigori Nagar Murugathamman Koil Street.

• Girigori Nagar Murugathamman Koil Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Girigori Nagar 2nd Main Road: Rs 2,530 per sq.ft (2024)
• Girigori Nagar 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar 1st Main Salai: Rs 2,530 per sq.ft (2024)
• Girikori Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Girigori Nagar Murugathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, leading to a total of Rs 2,27,700. Please note that 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 specific calculations.

Which Sub Registrar Office covers Girigori Nagar Murugathamman Koil Street?

The Sub Registrar Office that covers Girigori Nagar Murugathamman Koil Street is 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 an important factor when buying or selling property in Manapakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Girigori Nagar Murugathamman Koil Street?

The current guideline value of Girigori Nagar Murugathamman Koil Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam that share the same guideline value of Rs 2,530 per sq.ft include Girigori Nagar Murugathamman Koil Cross Street, Girigori Nagar Main Road, Girigori Nagar 2nd Main Road, Girigori Nagar 2nd Cross Street, Girigori Nagar 1st Main Salai, and Girikori Nagar.

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

The stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or sale price, whichever is higher. For a property valued at Rs 25,30,000, the total stamp duty and registration fees would amount to Rs 2,27,700.

Which office handles property registration for Girigori Nagar Murugathamman Koil Street?

The Chennai South Joint I Sub Registrar Office handles property registration for Girigori Nagar Murugathamman Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.