Guideline Value for MURTHI NAGAR THIRUVIKA ST

Murthi Nagar Thiruvika St guideline value

The current guideline value of Murthi Nagar Thiruvika St is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village, under the Avadi Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Murthi Nagar Thiruvika St has changed

The guideline value for Murthi Nagar Thiruvika St has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,200 per sq.ft. This increased to Rs 804 per sq.ft in 2017, followed by a significant rise to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,625 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the value saw a remarkable increase of 87% from 2017 to 2023. However, there was a decrease of 33% in the value from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 35%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, which is the same as the guideline value for Murthi Nagar Thiruvika St. Below are other streets in Paruthipattu:

• Murthi Nagar Kambar St: Rs 1,625 per sq.ft (2024)
• Murthi Nagar V.O.C.St: Rs 1,625 per sq.ft (2024)
• Murthi Nagar Jeeva St: Rs 1,625 per sq.ft (2024)
• Murthi Nagr Back Side, M.G.R.St: Rs 1,625 per sq.ft (2024)
• Murthi Nagr, Bharathi St: Rs 1,625 per sq.ft (2024)
• M.R.M.Garden: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Murthi Nagar Thiruvika St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would amount to Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, making the total cost for these fees Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Murthi Nagar Thiruvika St?

The Murthi Nagar Thiruvika St falls under the Avadi Sub Registrar Office. The address for this office is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal complications during the registration process. The guideline value reflects the official valuation set by the government, which is used to assess property transactions.

Frequently asked questions

What is the current guideline value of Murthi Nagar Thiruvika St?

The current guideline value of Murthi Nagar Thiruvika St is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,625 per sq.ft in 2024, with various revisions in between, including an increase of 87% from 2017 to 2023.

What is the land classification for Murthi Nagar Thiruvika St?

The land classification for Murthi Nagar Thiruvika St is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Murthi Nagar Thiruvika St?

The Sub Registrar Office covering Murthi Nagar Thiruvika St is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Murthi Nagar Thiruvika St?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,25,000 would incur a stamp duty of Rs 1,13,750.