Guideline Value for MURUGAN AVENUE PHASE I

Murugan Avenue Phase I guideline value

The current guideline value of Murugan Avenue Phase I is Rs 1,100 per sq.ft. This street is located in Puthur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - V.

How the guideline value of Murugan Avenue Phase I has changed

The guideline value for Murugan Avenue Phase I has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 1,000 per sq.ft in the 2023 revision, and has now risen to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, 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 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 current guideline value of Murugan Avenue Phase I.

• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: 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 I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugan Avenue Phase I?

The Sub Registrar Office that covers Murugan Avenue Phase I 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 is a crucial factor when registering property in Puthur, as it determines the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

It is essential to note that the guideline value is updated periodically, reflecting changes in the real estate market. Buyers should always check the latest guideline values before proceeding with a property transaction to avoid any discrepancies.

Frequently asked questions

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

The current guideline value of Murugan Avenue Phase I 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 up to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Murugan Avenue Phase I?

Murugan Avenue Phase I is classified as Residential Special Type - V, indicating its intended use for residential purposes.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a plot valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.