Guideline Value for MURUGAN AVENUE PHASE III

Murugan Avenue Phase III guideline value

The current guideline value of Murugan Avenue Phase III is Rs 1,100 per sq.ft. This property is located in Puthur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Murugan Avenue Phase III has changed

The guideline value for Murugan Avenue Phase III has undergone several revisions over the years. The earliest revision in 2012 set the value at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced the value to Rs 670 per sq.ft, marking a decrease of 33%. However, the value increased significantly in the 2023 revision to Rs 1,000 per sq.ft, and again rose to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Murugan Avenue Phase III.

• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase V: Rs 1,100 per sq.ft (2024)
• Murugan Enclave: Rs 1,650 per sq.ft (2024)
• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Murugan Avenue Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Murugan Avenue Phase III?

The Sub Registrar Office that covers Murugan Avenue Phase III is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Puthur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, which is a necessary step in the registration process to formalize the property transfer.

Frequently asked questions

What is the current guideline value of Murugan Avenue Phase III?

The current guideline value of Murugan Avenue Phase III is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Murugan Avenue Phase III?

The registration for Murugan Avenue Phase III is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

Where can I find more information about other streets in Puthur?

Information about other streets in Puthur can be found by exploring the respective guideline values for each street, such as Murugan Avenue Phase II, Phase IV, Phase I, Phase V, Murugan Enclave, and Murugan Nagar & J.P. Avenue.