Guideline Value for MURALIDHARAN STREET (NEW RANGARAJAPURAM)

Muralidharan Street (New Rangarajapuram) guideline value

The current guideline value of Muralidharan Street (New Rangarajapuram) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Muralidharan Street (New Rangarajapuram) has changed

The guideline value of Muralidharan Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 340%. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The next revision in 2023 saw a substantial increase to Rs 5,500 per sq.ft, and finally, the 2024 revision established the current guideline value at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 380%. It is worth noting that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are a total of 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which aligns with the 2024 guideline value of Muralidharan Street.

• Munirathinam Street: Rs 4,400 per sq.ft (2024)
• Muthatchiamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthumariamman Koil Street (Sandrorpalayam): Rs 5,000 per sq.ft (2024)
• MMDA P Block M.G.R. Street (or) M.G.R.Main Road: Rs 6,000 per sq.ft (2024)
• MMDA P – Block M.G.R 5th Street: Rs 6,000 per sq.ft (2024)
• MMDA N Block –Bagatsing 3rd Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Muralidharan Street (New Rangarajapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muralidharan Street (New Rangarajapuram)?

The Sub Registrar Office that covers Muralidharan Street (New Rangarajapuram) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Arumbakkam, the guideline value is used to calculate the stamp duty and registration fees payable to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Ensuring that the property is registered at the correct guideline value helps avoid legal complications in the future.

Frequently asked questions

What is the current guideline value of Muralidharan Street (New Rangarajapuram)?

The current guideline value of Muralidharan Street (New Rangarajapuram) is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What is the land classification of Muralidharan Street (New Rangarajapuram)?

Muralidharan Street (New Rangarajapuram) is classified as Residential Special Type - II.

Which Sub Registrar Office is responsible for Muralidharan Street (New Rangarajapuram)?

The Kodambakkam Sub Registrar Office is responsible for Muralidharan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Muralidharan Street?

Stamp duty for properties in Muralidharan Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 4,20,000.